401(k) fixes for all age groupsBy Sandra Block, USA TODAY ...That's what happened to Kate Jacobus, 24, a marketing associate for Intimacy Bra Fit Stylists in Atlanta. She started investing in her employer's 401(k) plan in July 2008. Her portfolio has since risen more than 17%. When you're young, she says, "There's nowhere to go but up." Young workers should invest from 70% to 100% of their 401(k) plans in stock funds, says Dean Kohmann, vice president, 401(k) plan services for Charles Schwab, a financial services firm. For a "moderately aggressive" young investor, he recommends investing 45% in large-company stocks, 15% in small-company stocks, 20% in international funds, 15% in bonds and 5% in a money market or stable value fund. Read the entire article here |
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PSCA Announces a Celebration of 401(k): An Island of Stability in the Economic CrisisCHICAGO--(BUSINESS WIRE)--The Profit Sharing/401k Council of America (PSCA), announced as part of its 2009 401(k) Day celebration that 401(k) has been an island of stability during the current economic crisis. “The 401(k) system remains stable in these times of economic uncertainty,” stated David Wray, PSCA’s President. Unlike many other investors, 401(k) participants have continued to save and invest for the long term even in these challenging times. In a recent study of its 11.2 million accounts, Fidelity Investments found, for the second quarter of 2009, 5 percent of participants had increased their contributions while only 3 percent had reduced them. “401(k) participants have continued to be net buyers of equities during this entire period as over half of all new 401(k) contributions go to purchase stocks,” Wray added. This did not happen by accident. During this period nearly every large plan sponsor, many small plans sponsors, and all the providers of 401(k) services united in what some have called a "calm the waters" communication campaign directed at 401(k) participants. Plan sponsors across the country remain dedicated to providing education and communication to their employer-sponsored defined contribution plan participants, and it has made a difference. 401(k) participants continue to dollar-cost average into their plans and are committed to diversifying their investments. Tens of thousands of professionals are working every day to help these participants save for their future. Read the entire article here |
Boost Retirement Savings For The Long HaulScott Woolley, 09.11.09 - Forbes.com "Chances are your 401(k) plan is frittering away your money--a lot of your money--for no good reason. Over the course of a 35-year career, the typical 401(k) member will forfeit a whopping 23% of his or her retirement wealth to bad investment choices, according to a new National Bureau of Economic Research study. The good news: Plugging up almost all the leakage from 401(k) accounts requires little more than gaining a bit of know-how." Read the entire article here |
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