401k plans are becoming a bigger and bigger part of retirement plans. We handle lots of them at Labrum Wealth Management, and we see lots of problems and deficiencies within 401k plans: unclear commissions, a lack of education, and a general savings crisis among many working Americans. In fact, the majority of 401k plans in San Diego are held by advisors who handle less than two 401k's!
That’s why we’ve dedicated today’s episode to 401ks - and we’ve brought on 20-year 401k veteran Kent Colewell to dissect Fidelity’s 9th annual Plan Sponsor Attitudes Survey. You’ll learn how to make better plans, look out for potential problems, and find out all about recent developments in this particular field.
In today’s conversation, here’s what you’ll learn:
How the word "fiduciary" and how it's being used has changed - and why you want a full-disclosure advisor.
Why it can be so hard to see how financial advisors are getting paid - and why some advisors want to keep it that way.
Great ways to educate 401k plan participants, even if your organization has many employees scattered all over the world - and reduce your payroll costs.
How much your employees need to be saving, on average, to supplement their retirements - and the challenges in setting up automatic matching or contributions.
Why it's so important to have a focused, quality, retirement-focused plan advisor.
How to take a look at your plan and have it reviewed before benefits season hits - and why you may want to consider our Smart Index 401k service.
P.S.: Right now, we’re offering our $100 Portfolio Challenge. It’s like a physical for your 401k; we’ll look at all the inter workings of your 401k and exposure to volatility - as well as how we can improve it. If we can't, we'll send you a $100 gift card. If you’d like to schedule your Portfolio Challenge, email firstname.lastname@example.org and use the subject line “Portfolio Challenge”.
The content of this radio show is provided for informational purposes only and should not be considered investment advice or a recommendation to buy or sell any types of securities. Mr. Labrum and Labrum Wealth Management/Financial Detox are not responsible for the consequences of any decisions or actions taken as a result of information provided in this radio show and do not warrant or guarantee the accuracy or completeness of the information provided. The information discussed today reflects the views of Mr. Labrum and his guest(s) as of the date of this show and are subject to change without notice. Past performance is no guarantee of future results. Any forward looking statements or forecasts are based on assumptions and actual results may vary from any such statements or forecasts. No reliance should be placed on any statements or forecasts when making any investment decision. Accordingly, listeners should not rely solely on the information provided today in making any investment decision. There is a risk of loss from investing in securities, including the risk of loss of principal. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will be profitable or suitable for a particular investor's financial situation or risk tolerance. Asset allocation and portfolio diversification cannot assure or guarantee better performance and cannot eliminate the risk of investment losses.