The employer-provided pension plan is going the way of the Dodo and Social Security does not provide the level of retirement income that most people want. That leaves individual savings and the most popular tax advantaged savings plan is the 401(k). As a result the assets accumulating in 401(k) type plans is growing and for many it’s the single largest investment asset people have outside of their homes. So does it make sense to set it and forget it? For a growing number of people, the answer is no.
Investment advisors are offering 401(k) participants advice them on how to invest their assets.
Cerulli Associates, a research firm that specializes in the asset management industry, recently reported that there were $108 billion in assets in 401(k) managed accounts.
Of course that is a small fraction of the $3.5 trillion in these plans. For unbiased advice in helping you manage your retirement, contact an RIA.