By Financial Advisor Hans Smith
What to do with your workplace 401k when you start a new job?
One Day In July is able to examine the fees inside of your workplace retirement plan. Our managerial platform analyzes your costs throughout the plan, and guides decisions on what the optimal investment choices are within the 401k or 403b plan.
It is common for 401k and 403b plans to default employee contributions into target dated investment funds. These funds may not be the ideal investment choice for many investors. They often come with a high price tag, lack true diversification, and automatically ramp down your equity allocations at potentially inopportune times.
We will work with you to determine how much salary you should be deferring into your retirement plan, and make sure you are taking advantage of the company match.
It's almost always optimal to contribute to your 401k or 403b up to the company match point. Beyond that, there may be other investment accounts (such as a Roth IRA or brokerage account) that provide greater investment flexibility and lower fees.
There are several retirement account options for sole proprietorships and small businesses. We can help you set up the appropriate account type, and create an automated way to fund the account over time.
Contact us to help make investment selections in your current workplace 401k, or to help open a retirement account for your small business.
Get Started Today.
Available for meetings in Rochester, VT and surrounding areas.
Available for meetings in Bennington, VT and surrounding areas.