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Robert A. Imparato, Jr CFP®
CERTIFIED FINANCIAL PLANNER™ professional
Craig A. Hyldahl CFP®
CERTIFIED FINANCIAL PLANNER™ professional
R.I.C.H. Planning Group, LLC
105 Fieldcrest Avenue, Suite #507
Edison, NJ 08837
Robert: 732-326-5240
Craig: 732-326-5240
Fax: 732-326-5331
Robert: robert@richplanninggroup.com
Craig: craig@richplanninggroup.com
Website: www.richplanninggroup.com
November/December 2024
Tools to Help Automate Retirement Investing
Company-sponsored 401(k) plans have undergone significant changes over the years, including matching contributions from your employer and automatic enrollment, rebalancing, and contribution escalators. Even if you don't have these options, you can still model your retirement investing behavior after some of these plan features.
Auto Enrollment
If your retirement plan doesn't offer automatic enrollment, ask what you must do to join. If you don't have a workplace plan, make it your mission to research the qualifications and contribute to an individual retirement plan.Auto Contributions
Before starting a new job, forecast your take-home pay for your monthly budget after subtracting an amount for retirement contributions. (Remember that your contributions will likely be deducted on a pre-tax basis.) Start contributing as soon as you're eligible because time means everything when building your retirement accounts.Auto Escalators
Why not put the extra money into a retirement account when you get a raise? Employers can invest your raise automaticallly — before tax — so you do not even see it in your paycheck. If yours doesn't, request a change to your contribution level.Auto Choice
Some people don't enroll in 401(k) plans because they don't want to choose any investments. So, some employers automatically put employees' contributions into target-date or balanced accounts. Do the same if you don't want to choose among investment options.Auto Rebalancing
If you choose to invest in a workplace or other retirement plan, it pays to diversify.* To keep your portfolio diversified as planned, you'll need to rebalance it regularly, say every six or 12 months. Many 401(k) plans include this feature; otherwise, set yourself a reminder.Auto Rollover
Some employers automatically roll over retirement plan balances for employees leaving one job for the next, but the new employer will have to accept these rollovers. If your previous employer doesn't do this automatically, ask your new place of employment about rolling the balance over.*Diversification cannot eliminate the risk of investment losses. Past performance won't guarantee future results, and investing in stocks or mutual funds can result in a loss of principal.
GE-6952366.1(8/24)(Exp.9/26)
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Duly registered and licensed financial professionals offer securities through Equitable Advisors, LLC (NY, NY 212-314-4600), member FINRA,SIPC (Equitable Financial Advisors in MI & TN), offer investment advisory products and services through Equitable Advisors, LLC, an SEC-registered investment advisor, and offer annuity and insurance products through Equitable Network, LLC (Equitable Network Insurance Agency of Utah, LLC in UT; Equitable Network of Puerto Rico, Inc.). Equal Opportunity Employer - M/F/D/V. Equitable Advisors and its associates and affiliates do not provide tax, accounting, or legal advice or services.
R.I.C.H. Planning Group, LLC is not owned or operated by Equitable Advisors or Equitable Network. GE-6572038.1 (4/24)(Exp. 4/26)
CFP® and CERTIFIED FINANCIAL PLANNER™ are certification marks owned by the Certified Financial Planner Board of Standards, Inc.
These marks are awarded to individuals who successfully complete the CFP Board's initial and ongoing certification requirements.
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