Breathe New Life into Your Old 401(k)

5 Steps to Breathe New Life into Your Old 401(k) Leaving a job is stressful and emotional. Still, it’s critically important for you to remember to claim all your benefits and assets before you say goodbye. Most people don’t realize the choices they have with their ‘old 401(k)’ because it’s with a previous employer. But the truth of the matter …

4% Is Not Enough

By: Jesse Anderson Conventional advice says that you can withdraw 4% of your portfolio each year in retirement. Financial advisors have traditionally relied on this simple rule of thumb; however, for most investors 4% just is not enough. We all know that times have changed. The 4% rule comes from a complex formula running the historical performance of different investments …

Part 2: Control Your 401(k) Destiny

“It’s my money and I need it now.” You’ve probably seen the JG Wentworth® commercials that say, “It’s my money and I need it now!”  Well, 401(k) plans dictate how you can have access to your own money.  Yes, it’s your money but you may not be able to get it now! Believe it or not, many plans only have a …

Part 1: Control Your 401(k) Destiny

“An investment in knowledge pays the best interest.” -Benjamin Franklin Have you ever asked yourself who is in control of your 401(k) savings plan(s)?  Like many plan participants, you may think you’re in control. But the truth of the matter is that while you get to choose how to invest your retirement savings in an employer-sponsored plan, that’s about the extent of your …

You Lack BASIC Financial Knowledge

Thanks to the Dodd-Frank Act, the U.S. Securities and Exchange Commission (SEC) conducted a study of the existing level of financial literacy of retail investors. To no surprise to us at Snider Advisors, the study found most investors have “a weak grasp of elementary financial concepts.” This is the biggest reason we made financial education a critical component to our approach to investing. (If you are interested in the full report, you can find the 200+ page document here.)

When Will You Retire?

In America the retirement age has been traditionally considered to be 65. Economic uncertainty, insufficient savings, and other factors are causing workers to postpone retirement longer than ever. The financial blog Lemon examined the results of Gallup’s recent Economy and Personal Finance poll about when today’s workers intend to retire. The results of this poll can be seen in the infographic at the bottom of this post.

Run the Numbers

Fewer than half of Americans have calculated how much they need to save for retirement. Even though we are consistently prodded with advertisements and resources urging us to estimate how much we will need. Americans are still choosing to ignore the advice of financial experts.

Common, but Misleading Retirement Advice

Saving for retirement is one of the most daunting tasks the average person will face during his or her lifetime; because of this it comes as no surprise that everybody seems to have a different strategy for dealing with the problem. While there is no one correct solution for retirement planning, many widely accepted theories have been created that may not be entirely true. It is important to thoroughly analyze all the pieces to your retirement plan and make sure that your plan is build on a strong foundation. Here are a few widely acknowledged, yet often misleading pieces of retirement advice.

5 Sure Fire Ways to Hinder Your Retirement

Many of us look forward to a retirement full of travel and relaxation. But having a successful retirement requires a lot of early planning. You can’t just expect for all the pieces to fall into the right place if you aren’t taking proactive measures to improve your financial situation. Here are a few common planning errors that can drastically reduce your chances of retiring comfortably.

Should I contribute to my IRA, 401(k), or Savings Account?

Saving is a critical part of your personal financial success. But how much, when, and where you save can also have an important and lasting effect. When you have multiple accounts, you may not be sure where to start, but answering a handful of questions will help you prioritize the order in which you should make contributions to the various accounts available to you.