Blog Article

Is Your 401(k) Healthy?

Aaron Spencer

By Aaron Spencer, Wealth Advisor CFP®, ADPA™
Published On 11/28/2011

If you are like most of us, you likely visit your doctor’s office at least a couple of times a year. But when was the last time you had a check-up for your 401(k)?

It would not surprise me if you said, “not in quite a while”. But getting a financial check-up for your 401(k) account is extremely important, especially given the heightened economic issues and market turbulence over these last few years.

One of the many benefits of being a Merriman client is that we have the tools to help you align your 401(k) investments once a year. All you have to do is provide us with the mutual fund choices within your 401(k).

We will evaluate these choices and will then recommend an allocation that will mirror our research as well as match your long term goals and feelings about risk. This will ensure that every investment dollar you have is working as effectively as possible.

But what if we discover that your choices are very high cost or they just don’t allow us to mirror the tried and true Merriman investment philosophy? If you have changed jobs or have retired, you are now free to roll your 401(k) dollars over to an individual retirement account (IRA). Many of our clients then have us manage their new IRA along with their other accounts.

If you are still working and with the same employer who holds your 401(k) account, we can check the plan to see if it has a self-directed option. Fidelity’s self-directed option is called BrokerageLink and Schwab’s is called Personal Choice Retirement Account (PCRA). If your plan has either of these options, we may be able to manage your 401(k) dollars for you while you are still working!

So add these to your list of New Years’ resolutions: (1) call your doctor to get a physical if you haven’t had one in a while and (2) call us sometime during the coming year to get a 401(k) check-up, along with a review of all your accounts and your situation.

Here’s to your physical and financial health in the New Year!

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Aaron Spencer

By Aaron Spencer, Wealth Advisor CFP®, ADPA™

Aaron’s passion for finance developed by age 12, and he worked tirelessly to make his goal of becoming a stockbroker a reality before joining Merriman nearly two decades ago. What he appreciates most about working here is the ability to build close-knit and collaborative relationships both with his clients and his coworkers. He feels his primary responsibility is to protect and defend the families he takes care of from anything life might throw in their way, making sure they are able to live fully.

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