Your 401(k) may be your largest investment… but when was the last time you actually looked at it?
For many people, a 401(k) becomes a “set it and forget it” account. The problem? Your plan doesn’t stand still.
Investment options change. Recordkeepers change. Underlying investments get updated. And if you never made an investment election, there’s a good chance your money is sitting in a target date fund that’s based primarily on your age, not your complete financial picture.
That doesn’t mean target date funds are bad, but they don’t take in the holistic picture: your retirement goals, tax situation, outside investments, or risk tolerance.
A quick review once or twice a year can help answer a few important questions:
• Are your investment options still the best fit?
• Has your allocation drifted from your target?
• Is your 401(k) still working toward your long-term goals?
At Olympus Wealth Strategies, we help individuals and families make sure one of their largest assets is aligned with their overall financial plan not just their age. Reach out if you’d like a second opinion.
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