As you approach the end of any calendar year, you most likely will be presented with opportunities to make changes to all of the employer benefits you have access too. One of the most common employer benefits that employees take advantage of are employer sponsored retirement plans. In most cases, this is a 401(k).
So as you approach the end of the year, planning and optimizing your 401(k) becomes very important. However, it can seem like a hassle. Investment options, contribution percentages, paperwork, login's, etc. can seem overwhelming for a lot of people. But that doesn't make giving your 401(K) attention less valuable.
So in this episode, Derek covers what year end 401(k) planning steps you should be taking to make sure your 401(k) is being utilized to it's maximum potential.
We cover: - Automatic Enrollment - Investment Options and how to analyze them - Your individual investor profile - Learning about new features of your 401(k) - Contribution increases - Beneficiary reviews.