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John Nicholson is the founder of www.The 401K Man.com, an independent insurance & financial services agency dedicated to helping others find their solutions through the myriad of choices when seeking insurance, retirement and financial advice. John's career path began with helping others in the late 1980's and early 1990's. The 401K Man is an independent agency servicing the Midwest which provides a wide variety of choices as opposed to one size fits all plan available at many of the larger financial or "brand" insurance companies & firms. We offer many solutions from basic insurance policies to comprehensive estate planning.

Tuesday, February 4, 2014

401K Dangers


401(K) dangers that you may face are multifaceted. Not only are you at risk as the stock markets reach new highs and begin pullbacks or corrections, you have no control until you begin your own plan for retirement.
We felt it important to make you aware of what is needed to save enough for retirement. Along with providing alternatives to the standard plan.  Taking steps now to have multiple streams of income going forward towards your retirement will make a future setback to your 401(K) plan easier to survive when the inevitable market drop happens again.
There is no way for many with an average 401(K) putting away the maximum yearly will keep up with inflation, stock market tumbles, and lack of returns over time. The dangers to a 401(K) are many,
  • FEES 
  • LACK OF YOUR ATTENTION                                                                                                                
One of the greatest things you can do to avoid living in poverty during retirement is to take extra steps now.
If you take the time to set up  additional programs for you retirement such as opening a Self Directed I.R.A. or a Whole or Universal Life Insurance these will complement your Social Security, 401(K) and retirement plans.
 Annuities or Whole and Universal life insurance will give you a good guaranteed rate of return along with the ability to compound tax and fee free.
Albert Einstein once said the greatest thing he thought in the universe was the power to compound. Finding investments outside of your 401(K) that can offer no losses and compounding are the first steps towards
 additional safe retirement income planning.

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