Answers in Retirement Plans

Your personal retirement plans will have to be your primary method of funding your retirement and you should consider all the tools at your disposal to plan for and achieve your retirement goals.
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I agree with most of the previous comments about risk tolerance, age, dollar-cost-averaging and other suggestions. But here is one added point. If you are still working and contributing to a 401(k) plan you are probably under 65. An actuary would tell ...(more)
1 vote
David J Haas Level 7
Ronald, Your investment risk should be directly related to your risk tolerance. What goes into a risk tolerance? How long until you need the money is an important factor. But also how well you can sleep at night when your money is at risk. But owning ...(more)
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The price of the plan always depends on the service. The Department of Labor has said that a "reasonable" fee must be selected. Reasonable depends on the service. If you are getting exceptional service from JHancock, then this fee may not be too high. ...(more)
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There's nothing wrong with buying high if the market continues to go up. If you don't buy high today and the market continues to climb then you actually missed buying low. If you have a financial plan that fits your risk/return profile then market prices ...(more)
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Curt makes a very point in asking how long do you have until retirement, but if you have time then I would do this in addition. I would say that you could slowly "Dollar-Cost Average" back in to the "market" in the other choices in your plan so that if ...(more)
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Alice, You can get the information form your HR Dept at your previous employer. I would also advise that you take a moment to consider taking the money out as cash as you will realize about 60 cents on every Dollar you have in your account. Now you may ...(more)
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Timing the market is always challenging. I can't answer your question specifically but I can give you a couple of thoughts. If your time horizon is quite away into the future (5 or more years) then don't worry too much about current prices. If your ...(more)
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I would go to the big companies that handle 401(k)s, like Vanguard and Fidelity, and ask them for an all in expenses and plan fee summary. I work with Vanguard and all they need is the number of participants in the plan and a ballpark figure of the total ...(more)
2 votes
James Holland Level 18
Tina 1 AND DONE your plan should have a TOTAL COST of 1% or less for EVERYTHING Record keeping/TPA , Advisor & Investments. I agree with Eric get a TRUE Fiduciary one who assume the role 100% with NO limitation to liability no opt out clause or indemnifications. ...(more)
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Don't use a plan provided by an insurance company or fund company if possible. Clear conflicts of interest. There should be a smaller RIA or Turn Key provider in your area that will charge less than that and act as a 3(38) or 3(21) Fiduciary. If you ...(more)
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I'd recommend getting at least three quotes for your plan. Include at least one quote from an RIA. The estimates you provided seem high, and they don't seem to include the underlying fund expenses. Also, paying for record-keeping based on % of assets ...(more)
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Kevin, the short answer is, it depends. There are strict rules that restrict the employer from discriminating in favor of owners and highly compensated employees. But there are also formulas that can be used to pass the discrimination testing. In ...(more)
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Joseph, the problem is that you want advice on how to diversify your account. The way to allocate your account is based on primarily your risk tolerance, but also has a variety of other factors. A very important rule for a financial advisor is to ‘know ...(more)
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Stephanie, these costs, both advisory and administrative, can vary widely based on the special circumstances of the group; average account balance, total assets, number of locations, plan design, special service issues, etc
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David J Haas Level 7
Hi Leslie, Besides what Jeremy said, I want to add that any 401k withdrawals will be taxable (unless you had post-tax contributions or roth 401k contributions). The age 55 rule only waives the extra 10% penalty on early withdrawals. I don't know your ...(more)
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