Already in a Retirement Plan? How to Tell if It's a Good Plan for You.

Congratulations! You've taken the important step of saving for retirement. Let's make sure that the retirement savings plan you are in–is the right one for you. There are a lot of bad plans with high fees that can eat away at your savings. Here are some questions to ask yourself to determine whether you're in a good plan.

Retirement plans can be complicated, and companies don't make it easy to understand fees and other plan details that could be negatively impacting your savings. You don't have to be an investment expert. In fact, you can start to evaluate your plan by calling the company that manages it. Locate their phone number on your statement or their website.

Below are some important questions you'll want to ask:

  1. What type of plan do I have? Is it a 403(b) or a 457? Is it an annuity?
  2. How much are you charging me in total fees?
  3. Can you break down those fees for me?
  4. Are there surrender or early withdrawal fees on my investments?
  5. Where is my money invested?

What to do if your plan isn't right for you

If, after your evaluation process, you feel that you'd like to explore other plan options, you may be able to exchange or roll over your investments into a different plan.

If you have questions about how to do this, you can call us for more information at 650-552-5200.