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Ep. 71: Don’t Be Scared. Dare to Compare.

June 11, 2017 By Michael Clark

There are so many places to buy the same product nowadays. Take groceries for example. I can think of five stores off the top of my head that sell essentially the same products. How on earth do we decide where to go to get their groceries? Now let’s consider you’re a business looking to open a 401k plan for your employees, or simply someone looking for your own 401k. There are dozens of firms offering similar plans that can be made up of the same securities. So how do you decide?

Compare, Compare, Compare

You should do your due diligence, with your advisor, and compare all of your options. It is even more crucial to be diligent if you are setting up plan options for employees. You may feel setting up a plan is too expensive, or time consuming. Look at it as an investment in your business. Having benefits such as retirement plans can help attract and keep good talent, as well as potentially giving your business tax breaks. You need to take time to compare costs up front, and don’t forget to revisit your terms at later dates as your company grows.
As an individual there are many things to compare when shopping to get the most dough for your future. For example, if you select a Roth account the seeds of your labor, money going in, will be taxed. If you choose a 401k then only the harvest in retirement, your withdraws, will be taxed. You also have many options when it comes to social security, a divorce, and when it’s time to withdraw money.

It’s important to educate yourself on the options that are available to you. That will help you avoid excess taxes and fees. If you are proactive in the planning of your retirement you help assure your retirement will go smoothly. 401k Land can be confusing. Do your research up front; get with your advisor, and compare, compare, compare.

Being one of the local leaders in business 401k’s, we discuss retirement options for business’s often on our radio show. If you missed this show, or any others make sure you check us out here,

Don’t Be Scared. Dare to Compare.

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“It’s fine to celebrate success, but more important to heed the lessons of failure.” – Bill Gates

• Why choose Keiron Partners as your 401k advisor. (3:30)
• Interesting question about setting up a plan for your business (9:12)
• Are there penalties for putting your traditional 401k into a Stock Purchase Plan (13:07)
• Some advice for anyone going through a divorce. (16:08)
• Why are employer 401k plans so limited for company match? (20:51)

The information contained in this blog does not purport to be a complete description of the securities, markets, or developments referred to in this material. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Expressions of opinion are as of this date and are subject to change without notice. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Investments mentioned may not be suitable for all investors. 401(k) plans are long-term retirement saving vehicles. Withdrawal of pre-tax contributions and/or earning will be subject to ordinary income tax and, if taken prior to 59 1/2, may be subject to a 10% federal tax penalty. Prior to making an investment decision, please consult with your financial advisor about your individual situation.

Filed Under: Blog, Front Page, Uncategorized Tagged With: Blog

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Securities offered through Raymond James Financial Services, Inc., Member FINRA/SIPC
Investment advisory services offered through Raymond James Financial Services Advisors, Inc. Keiron Partners is not a registered broker/dealer and is independent of Raymond James Financial Services.

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