Should You Use Your Workplace Retirement Options?

The Principle:

Is the 401(k) at work the best fit for you? What other accounts should you consider? Brian talks through these questions as well as the importance of holistic financial planning. 

Honest Takes:

Should you use your workplace retirement option or is there a better opportunity elsewhere? Motley Fool says some workplace retirement plans are better than others. It’s easy to do your 401(k) but what are the restrictions? If you need the money, can you get to it? Is it a govod idea to pull from it before retirement? 

Look at how much the company match is. Is a Roth 401(k) an option? After reaching the match, what are other options worth considering? What are the fees involved? Consider whether you want more flexibility from an account in the future. 

What does Larry the Cable Guy look for in a financial advisor? And are they the same things you should look for? Brian gets a sense of satisfaction knowing he’s helped a client achieve their financial goals. More than that, it’s about making big decisions that are beneficial for your family. Holistic planning is more than just about the money. What does that money represent in your life? The hard work you’ve put in, the money it could generate, and the legacy for future generations. 

Listen to the entire episode or use the timestamps below to skip ahead. 

[0:12] – Should you invest in your company 401(k)? 

[4:36] – Do you know the rules and restrictions on your plan? 

[5:55] – What does Larry the Cable Guy look for in a financial advisor? 

Today’s Truth:

“There’s so many things that go into a plan. It’s not all about investing the money. There’s so many other decisions.”

Brian Bowen

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The Host:

Brian Bowen – Contact