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If You Can’t Figure Out Your 401k Then Hire A Financial Advisor

By Derrick E. Bell

Most employers offer 401ks these days, don’t pass these up! These accounts have a lot of advantages for your retirement savings.

Do as much as you feel you can afford, but as a rule at least ten percent, if not twenty. This will help make up for slower saving years and always keep your investments moving forward. Plan out how much you need, and how much you need to save each year. Don’t forget to add in the returns on your investments, like a 401k or IRA. Making a plan is key to any successful retirement savings.

You shouldn’t stop working until you have enough saved to live on for the rest of your life. So the first thing you need to decide is how long you ideally want to live on this money. Of course, the first problem that comes up is not knowing how long you’ll live. Unless you have some kind of condition that convinces you otherwise, it is strongly suggested that you plan on living to be ninety five years old, if not a hundred. It would be awful to be eighty and run out of funds.

It would be nice to be able to say you can simply stop working when you reach this specific age, but the truth is it completely depends on how well you’ve planned your savings for this moment. If you have the money then hurray, you can go ahead and the live the dream! If not, well, then you’re going to want to start looking at your plans and making some adjustments.

Take the Lehman Brothers for example. Their Aggregate Bond performed well in its day. Most people were used to a solid eight to fifteen percent return per year. Now we all know what happened with the Lehman Brothers, as well as many others during the past couple of years. Today, there have been billions of dollars lost that people once trusted with institutions that no one thought could fail.

Many people think that during retirement they will be much happier than they are now. This is not the case in most people’s reality once they retire. I myself am guilty of thinking that when I get to a certain place in life, I will have arrived. That is only an illusion in our heads that we have created. You will want to be doing things that you enjoy doing while you are working.

Planning the very end of your work career can be stressful. Just like everything else in life, this requires a plan. Most people know that something has to be done, but they just don’t know what to do and where to start. Now that you have made the necessary calculations and know that your nest egg will be enough to support you and your family, we will go over a few tips to help you prepare for the time when you retire.

Most people have worked somewhere for so long that they now identify themselves with a particular place or event. Leaving this can be difficult for many people, so you might want to talk with a friend who is retired that is settled in life.

Go ahead and find your retirement home if you have a bigger, older home now. Most likely you don’t need all that space. If you can sell your home that you are in now and pay for a smaller one, chances are you will have some extra cash left over that you can save.

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Article Citation
MLA Style Citation:
Bell, Derrick E. "If You Can’t Figure Out Your 401k Then Hire A Financial Advisor." If You Can’t Figure Out Your 401k Then Hire A Financial Advisor. 2 Sep. 2012. 1 Aug 2014 <>.

APA Style Citation:
Bell, D (2012, September 2). If You Can’t Figure Out Your 401k Then Hire A Financial Advisor. Retrieved August 1, 2014, from

Chicago Style Citation:
Bell, Derrick E. "If You Can’t Figure Out Your 401k Then Hire A Financial Advisor"

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