Created: July 3, 2020
Modified: November 15, 2022

Should You Review Your 401(k)?

What You’ll Learn:
The retirement accounts set up through your employer are powerful saving vehicles but are you managing it properly? Some people obsess over their investments while others set it and forget it. Which strategy works the best and how can an advisor play a key role in your strategy? We’ll tell you about that on this episode.

No matter what type of retirement account your employer offers, it can be an important part of your retirement plan. For our conversation today, we’re focused on the 401(k) but what we want to talk about can be applied to any of the other options.

When it comes to the 401(k), it seems like there are two primary types of people. The first are those that set up their investments and leave their account alone. The second group is always checking the account and making changes and adjusting investments. You can wind up with good results either way but both have their negatives.

First off, you should be evaluating your investments on a consistent basis. Companies and sectors are always changing and moving. What’s working for you today likely won’t be your best option in a couple of years.

Of course everyone wants to do the best they can on their own. That’s how this account was set up: for independent investing. But I’ve found there are very few people that can carefully – and accurately – assess their portfolio analytically and make the correct decisions on where to contribute their money.

The beauty in the 401(k) is that financial advisors can now assist you in this process. You don’t have to do everything on your own. At Johnson Brunetti, we ask you to bring in your statement when you come in to meet with us. We’ll take that and look through your portfolio. Once we’ve reviewed everything, we’ll help you make investment decisions for your account. The great part of it is you can fire us at any time and go another direction.

The important takeaway for this episode of the Money Wisdom podcast is to understand that you need to be looking over your portfolio every 2-3 years at least and utilize the help of a professional to build a group of investments that carry you forward towards retirement.

0:28 – The plan for today’s show.  

1:52 – What goes wrong when you don’t pay enough attention to your account?

3:10 – What about the people are obsessing over their 401(k)?

5:15 – Joel shares a story about a strategy that a huge company in LA uses.

6:12 – What’s the best way to get help in a 401(k) when it’s set up to do it yourself?

7:50 – How investing has changed in 401(k) accounts.

* At 9:12 in the audio, Joel talks about how we manage 401(k) money. We offer this through RMS, a third-party money manager that manages 401(k) dollars.

  • Sandy and Thomas C.
    Sandy & Thomas C. are clients of Johnson Brunetti and received no compensation for their statement.

    “We always felt our financial needs were in very capable hands. Alex Angst is great to work with. Our advisor always made us feel he had our best interests at heart and explained things so we could understand them.”

  • Lisa D.
    Lisa D. is a client of Johnson Brunetti and received no compensation for her statement.

    “Working with Johnson Brunetti has had a positive impact on my life by providing me with the knowledge, confidence, and peace of mind to move forward with my retirement plans. The process of getting to this point, through their guidance, has been informative and pleasurable.”

  • Ken D.
    Ken D. is a client of Johnson Brunetti and received no compensation for his statement.

    “I view your company as one that puts my interests first. I think that is very uncommon and very refreshing. “

  • Jeanne P.
    Jeanne P. is a client of Johnson Brunetti and received no compensation for her statement.

    “Matt does an awesome job! So easy to understand and he listens to our concerns and addresses them! happy I chose your firm!”

  • Anonymous
    This testimonial was provided by a client of Johnson Brunetti and received no compensation for their statement.

    “I have been pleased with the help and service I have received from the company. I have met several team members on Eric’s team and have found all of them very well prepared to meet with me when reviewing my portfolio. I always feel that I am an important customer and appreciate that very much. I hope the firm continues to focus on the customer and maintains its great service. I think you do a great job for someone like me!!!! I’m happy I chose your firm!”

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