Company Retirement Plan
Retirement plan
retirement
5 tips for investment success

Take the free advice
Next
5 of 6
Back
Take the free advice

The Charles Schwab survey found that only 10 percent of 401(k) participants whose employers offered third-party investment advice as a benefit actually used the service. Of those who did take advantage of the offer, 70 percent made adjustments to their plans that nearly doubled their savings rates. Those who received professional guidance also had more diverse portfolios than those who did not.

Before you make an appointment with your company's investment adviser -- or seek one out on your own -- do a little self-assessment. McHugh says you should be prepared to answer questions about how much you have saved -- within your company retirement plan and elsewhere -- as well as your expected retirement age and your anticipated retirement lifestyle.

Of course, you'll want to get advice on your asset allocation, but Lane says you shouldn't leave the choice entirely to the pros.

"If they make a recommendation, ask them why," Lane says. "If they are just basing it on time frame and not the amount of volatility you're willing to accept, really push back against that. You don't want any cookie-cutter answers."


 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
MORTGAGE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed 4.07%  0.21 4.28%
15 year fixed 3.18%  0.08 3.26%
5/1 ARM 3.36%  0.07 3.43%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.36% --0.00 4.36%
50K FICO-based HELOC 4.06% --0.00 4.06%
100K FICO-based HELOC 3.91% --0.00 3.91%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.79% --0.00 2.79%
48 month used car loan 2.98% --0.00 2.98%
60 month new car loan 3.23% --0.00 3.23%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 0.94%  0.01 0.93%
2 Year CD 1.13% --0.00 1.13%
5 Year CD 1.76%  0.00 1.76%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.77%  0.06 15.71%
Cash Back Cards 16.48%  0.07 16.41%
Low Interest Cards 10.96%  0.10 10.86%
 
Next
advertisement
CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

Blog

Jennie Phipps

Work less — ‘It’s a better life’

Retirement actuary Steve Vernon says working less while delaying Social Security is the best way to retire.  ... Read more

advertisement
Partner Center
advertisement

Connect with us