Chapter 7
Managing and Optimizing Your 401(k)
IN THIS CHAPTER
Signing up for access to your 401(k) provider
Reviewing and optimizing your asset allocation choices
Understanding your 401(k) investment options
Changing your plan contributions
Taking certain tax-wise distributions
You’re well on your way with your retirement plan. At this point, you’ve probably signed up for your company’s 401(k) plan, so you can sock away money. Retirement, here you come!
But wait a second. You might be patting yourself on the back for fighting the powerful force of inaction, which is more than half the battle with retirement planning. But if you just follow the automatic sign-up selections for your 401(k), you’re not getting the most out of it.
Plans that auto-enroll employees tend to start with low initial contribution rates, often just 1 percent of your pay. And the default choices for your investment options tend to be generic. To get the max from your 401(k), you need to do a bit of research. ...
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