As of June 9th, 2017, the Department of Labor's fiduciary rule, also known as the conflict-of-interest rule, has partially taken effect. The new rule has the greatest effect on financial advisors who are registered brokers. How does the fiduciary rule impact you? What do you need to know?
401(k) Tune Up: How to Lower Your Fund Fees
Runnymede has increasingly been serving as a fiduciary advisor to companies' 401(k) plans so I continue my series of articles on how to tune up your retirement plan. The intended audience is the company and its trustees that sponsor the plan but participants are also advocating for better plans. It is our hope to help employers optimize and better manage their retirement plan. In doing so, we seek to help employees achieve their goal of successfully preparing themselves for retirement.
This week, I want to help you to decipher mutual fund share classes. By far the largest component of 401(k) plan fees and expenses are those associated with managing plan investments. Moving to less expensive funds is an action item that can save money fast and have a huge impact over time.
Benchmark Your 401(k) Plan
Runnymede has increasingly been serving as a fiduciary advisor to companies' 401(k) plans so I will be writing a series of articles on how to tune up your retirement plan. The intended audience is the company and its trustees that sponsor the plan but participants are also advocating for better plans. It is our hope to help employers optimize and better manage their retirement plan. In doing so, we seek to help employees achieve their goal of successfully preparing themselves for retirement.
Why Not Now? Realizing Your Goal Starts With Action Today.
Last night before going to bed my wife asked me, “Can you turn on the humidifer?” “Sure,” I said burying my head back into my laptop to finish some work.
This morning the first thing I heard was, “How come you didn't turn the humidifier on?” Oops. After completing what I had been working on, I put the laptop down and quickly fell asleep.
And so, today, I write about ACTION always beats INTENTION.
How to Find an Old 401(k)? A Comprehensive Guide to Help You Find Your Money.
According to the U.S. Bureau of Labor Statistics, the average American has held 11.7 jobs from age 18 to 48. When switching jobs, 401(k) money doesn't automatically switch with you. In fact, by some estimates, more than 900,000 workers lose track of their 401(k) plans each year! This leaves many people at some point working hard to track down an old 401(k) account or accounts. The good news is that the money should stay in your account. Here are some tips to help you track down your old retirement account.
401(k): Finding The Right Asset Allocation
One of the most important decisions you have to make in your 401(k) plan is asset allocation — that is, how much you put in stocks, bonds, and cash. Asset allocation is the strategy of dividing your investments across various asset classes in order to reduce risk through diversification. Here are two simple approaches to get you started.