401k advice you actually want

<p><strong>Josh: </strong> Welcome to the making smart decisions podcast. I'm your host, Josh Toronto. And today, we're going to cover 401k help that you actually want. So most people would classify their 401k help as discussing it at work with their coworkers. Hey, what are you doing? This is what I'm doing. Hey, how was your return?</p><p>[00:01:45] Hey, what fund are you in? But in the days of COVID, which we're currently in, fewer and fewer people are working together fewer and fewer people have that chance to discuss that at work. And I really wouldn't classify that as advice, although that's what most people get. 401ks for the vast majority of Americans is their largest investment.</p><p>[00:02:02] It's their largest saving and investment and investing vehicle towards retirement. Hands down, and most of the time, you get a match from the employer. So that adds extra value there because you're getting an immediate return on your money. In fact, most 401k plans. Now, instead of you opting in, you have to opt-out once you've been there a certain amount of time. You're auto-enrolled in the 401k.</p><p>[00:02:21]However, you're auto-enrolled in the 401k, and they pick a plain target-date fund. Really what you need to do is look over all the offerings and put them together. Okay, what areas do I want to be in? And let me put together a proper asset allocation and make sure that it works in concert with all my other investments, much easier said than done, especially for the vast majority of 401ks and403bs, because you're not receiving any personalized attention.</p><p>[00:02:45] I don't want that to sound biased, or I'm saying, Hey, take my advice. Cause your 401k company isn't helping you. I am actually the person that has created an administered 401k's for many companies. So if someone at the company has a question regarding their investments, I'm the person they call. So I'm on both sides of this.</p><p>[00:03:01] I get it. The fact of the matter is we're in there to educate people when it comes to th