Kim Snider
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November 13, 2006

Podcast for 11/13/06: 401(k) Plans Come Up Short

401kcover_1Kim Snider interviews Annika Sunden, research associate at the Center for Retirement Resarch at Boston College, talks about her book, Coming Up Short: The Challenge of 401(k) Plans. She details the choices people must make, and how we make mistakes almost every step of the way.

MP3 Download: High (14.7 MB) | Low (8.5 MB)

Show length: 21:31


Notes:
0:00  Show open and introduction
1:55  Kim Snider asks Annika Sunden, research associate at the Center for Retirement Research at Boston College, about her book, "Coming Up Short: The Challenge of 401(k) plans. What did she set out to study, and what did she find?
3:43  Some of the mistakes people make in their 401(k)s
6:24  Kim asks about the lack of choices many people face in their 401(k)s.
7:34  Are people overwhelmed by too many choices
8:51  Are people unprepared to decide where to invest?
10:32 What can employers do to offer better support?
12:08 What are some of the mistakes people make when they take out loans or early distributions from their 401(k)s?
14:43 Do younger workers feel they're far enough from retirement that it's OK to raid their 401(k) accounts?
15:22 Kim goes over the five decisions we make in our 401(k)s.
        1. Should I participate
        2. How much should I contribute
        3. How should I direct the investments
        4. WHen should I rebalance
        5. How do I make the money last
    Do you think people realize they're making mistakes?
16:28 Would it be helpful if people had a benchmark to compare their progress to?
18:58 Kim asks Annika if she could pick one thing that would make a meaningful difference to how people control their 401(k)s, what would it be? Annika says save.

Resources:
Coming Up Short: The Challenge of 401(k) plans
Center for Retirement Research, Boston College

 

Kim Snider, Kim Snider Financial Communications, Chronim Investments and/or Snider Advisors make no representation that the information and opinions expressed are accurate, complete or current. The opinions expressed should not be construed as financial, legal, tax, or other advice and are provided for informational purposes only. Call 866-952-0100 to request the Snider Investment Method™ Owner's Manual, which includes a description of the Snider Investment Method, investment objectives, risks, suitability and other information. Please read and consider carefully before investing. All investments are subject to risk including possible loss of principal.

 

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Kim Snider is an author, speaker and host of Financial Success Coaching, Saturdays at noon, on KRLD Newsradio 1080, Dallas - Fort Worth. This blog is primarily devoted to empowering individual investors with information to help them be good stewards of their money. Above all, it is about achieving true financial success. Kim's book, How To Be the Family CFO: Four Simple Steps to Put Your Financial House in Order is in bookstores now. Order yours from Amazon or other fine booksellers today.

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