Workplace Retirement Plans
Raise your hand if your employer offers a workplace retirement plan. Keep it raised if your employer offers a match. Raise the other hand if you’re participating. Now keep them both raised if you can tell me what fees you’re paying and what funds you’re invested in. Funny how all those hands just went down! Most of us have access to retirement plans through our jobs and Americans have more assets than ever in those plans and with the advent of financial technology (fintech), plans have become more robust. Some are using advanced algorithms to help employees select the most appropriate benefits based on information provided, while others assist participants with fulfilling future goals, like purchasing a home, sending kids to college, and ultimately retiring. Whether or not your plan is using fintech, there are specific questions that you should be asking:Are you contributing to six percent?Are you increasing your contribution by at least one percent each year? Are you getting the full match, if there is one?Are you using the appropriate funds based on your goals?Are you aware of the fees and how they change based on what you choose?The more you know, the more likely you are to reach your retirement goals. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/ https://twitter.com/jillonmoney https://www.facebook.com/JillonMoney https://www.instagram.com/jillonmoney/ https://www.youtube.com/c/JillSchlesinger https://www.linkedin.com/in/jillonmoney/ http://www.stitcher.com/podcast/jill-on-money https://itunes.apple.com/us/podcast/better-off-jill-schlesinger/id431167790?mt=2
BONUS call: Student Loan Debt
BONUS call: Can I Retire Early?
About The Show
Host Jill Schlesinger, CFP®, tackles sometimes uncomfortable and even controversial money and investing issues, without the financial jargon, to get to the heart of what’s important for anyone to know. Jill takes listener phone calls and interviews informative and entertaining guests each week to uncover surprising insights and provide actionable information so you can make the most of your money. Have a question? Email us at askjill at jillonmoney dot com.