Good point. Our company had a pension plan, but added a 401K as well. A buddy and I asked his Step Dad, who was a very successful business owner and smart on finances about it. His exact words were ‘Put in the max amount the company will match, even if it means you have to eat beans once in a while’. We both did. And, you really don’t miss it since it comes out before taxes. I was able to retire at 55 and live pretty comfortably after 30 years of contributions.TxRVer wrote: ↑Tue Jan 21, 2020 3:41 pmGood advice. I'd like to add...if the company matches funds in the 401k, put in as much as you can to get the maximum match.Keith B wrote: ↑Tue Jan 21, 2020 3:29 pm If you’re looking for basic guidelines to get started, the company that handles your companies 401K/pension may be able to do that. My company used Fidelity for our 401K and Pension plans and they provided financial advisors free of charge to us.
If you want an outside advisor, then as stated, look for a planner who Has a fiduciary responsibility to you. They will normally charge a flat annual percentage to manage your money. I have one fund that is managed and the fee is 1.8% annually.
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- Tue Jan 21, 2020 5:08 pm
- Forum: Off-Topic
- Topic: Looking for a financial planner
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Re: Looking for a financial planner
- Tue Jan 21, 2020 3:29 pm
- Forum: Off-Topic
- Topic: Looking for a financial planner
- Replies: 12
- Views: 4522
Re: Looking for a financial planner
If you’re looking for basic guidelines to get started, the company that handles your companies 401K/pension may be able to do that. My company used Fidelity for our 401K and Pension plans and they provided financial advisors free of charge to us.
If you want an outside advisor, then as stated, look for a planner who Has a fiduciary responsibility to you. They will normally charge a flat annual percentage to manage your money. I have one fund that is managed and the fee is 1.8% annually.
If you want an outside advisor, then as stated, look for a planner who Has a fiduciary responsibility to you. They will normally charge a flat annual percentage to manage your money. I have one fund that is managed and the fee is 1.8% annually.