I always get asked questions like “How should I invest my 401(k)?”
These questions have become the norm over the last five years, as most of my friends and family know that I’m a financial planner who helps people prepare for retirement.
I decided it would be best to detail the most critical ingredients in building a killer 401(k) portfolio.
As you approach your late 50s and early 60s, the reality sets in that in the next 10 years you will be retiring. You’re scared and nervous. But you know the clock is ticking, and it’s time to leap into retirement.
In the late ’90s and early ’00s, corporations changed the retirement landscape for everyday working Americans. Due to shifts in the economy and underfunded pension liabilities, corporations got rid of the pension plan. They shifted workers to a defined contribution system where the worker must save for their retirement. This massive change shifted the responsibility for retirement from the corporation to you, the individual.
Retirement will be one the biggest life transitions you make.