What Should You Do with Your 401(k)?

February 25, 2019
Most people with a 401(k) realize it's critical to achieving their retirement goals, but what's the best way to take care of it and help it grow?

Listen on Apple Podcasts, Google Podcasts, Spotify or copy to your RSS reader.

Transcript Open new window

After you listen

  • If you'd like to try a retirement calculator or learn more about how 401(k)s work, visit workplace.schwab.com.
  • You can also find tips to help you prioritize your savings goals at Schwab's Savings Fundamentals.
  • And if you’d like to help shape the future direction of the show, please consider taking this brief survey.
  • If you'd like to try a retirement calculator or learn more about how 401(k)s work, visit workplace.schwab.com.
  • You can also find tips to help you prioritize your savings goals at Schwab's Savings Fundamentals.
  • And if you’d like to help shape the future direction of the show, please consider taking this brief survey.

A recent survey of people participating in 401(k) plans revealed that 62% of them expect their 401(k) to be their biggest source of income in retirement. But if these accounts are so critical to retirement, why are they so often neglected? In this episode Mark Riepe talks with experts from the world of retirement plan services: Catherine Golladay and Nathan Voris. They discuss saving strategies and the major stumbling blocks that can prevent you from maximizing your 401(k).

You can read more about how 401(k)s have evolved in these studies:

  • "Defined Contribution Pension Plans: Determinants of Participation and Contribution Rates," Journal of Financial Services Research, 2007, Gur Huberman, Sheena S. Iyengar, and Wei Jiang.
  • "Increasing Saving Behavior Through Age-Progressed Renderings of the Future Self," Journal of Marketing Research, November 2011, Hal E. Hershfield, Daniel G. Goldstein, William F. Sharpe, Jesse Fox, Leo Yeykelis, Laura L. Carstensen, and Jeremy N. Balinesen.

Subscribe to Financial Decoder for free on Apple Podcasts or wherever you listen.

Financial Decoder is an original podcast from Charles Schwab.

If you enjoy the show, please leave us a rating or review on Apple Podcasts.

 

How much will you need to retire?

Roth 401(k) vs. Roth IRA

Three reasons to consider contributing to a Roth 401(k), if available.

Is a Reverse Rollover Right for You?

Three scenarios in which a reverse rollover may make sense.

Tracking Down a Lost 401(k)

How to locate missing retirement funds.