{"id":1896,"date":"2018-10-01T10:28:16","date_gmt":"2018-10-01T15:28:16","guid":{"rendered":"https:\/\/www.rixtrema.com\/blog\/?p=1896"},"modified":"2020-02-22T07:40:04","modified_gmt":"2020-02-22T12:40:04","slug":"the-importance-of-explaining-401k-related-calculations-to-plan-participants","status":"publish","type":"post","link":"https:\/\/rixtrema.com\/blog\/the-importance-of-explaining-401k-related-calculations-to-plan-participants\/","title":{"rendered":"The importance of explaining 401k-related calculations to plan participants"},"content":{"rendered":"<p><span style=\"color: #000000;\">It is often difficult to keep up in the modern fast paced world. Many people sign up for their company&#8217;s 401(k) plan and then do nothing, thinking that the plan will automatically take care of everything. But it will not fly on its own like some fire-and-forget missile. <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.rixtrema.com\/blog\/?s=Plan+participants\">Plan participants<\/a><\/span> need to take on an active role in managing their 401(k) for the benefit of their financial future. There is so many different factors when it comes to retirement plans that participants should be ready to take on:<\/span><\/p>\n<ul>\n<li><span style=\"color: #000000;\">Checking statements and monitoring the returns of 401(k) investments;<\/span><\/li>\n<li><span style=\"color: #000000;\">The awareness of the fees paid by the plan;<\/span><\/li>\n<li><span style=\"color: #000000;\">Monitoring raises and consequent contributions to not fall behind in savings;<\/span><\/li>\n<li><span style=\"color: #000000;\">Watching and mixing investments (or \u201casset allocations\u201d) over the years, as the retirement date gets closer;<\/span><\/li>\n<li><span style=\"color: #000000;\">Taking full advantage of the employer matching contributions&#8230;<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000;\">&#8230;and so many other little things that RIAs and Plan Fiduciaries should help participants to carry on through their long journey to a comfortable retirement.<\/span><\/p>\n<p><span style=\"color: #000000;\">Knowing and understanding the basics of retirement plans may not be as easy as it seems to unsuspecting retirement participants, and this is where the language of numbers comes in to play by helping to eliminate a hurdle in 401k education. Ackley Associates shed some light over a mystery of 401k math (<span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/401kspecialistmag.com\/math-without-meaning-a-hidden-flaw-in-401k-education\/\">Math Without Meaning: A Hidden Flaw in 401k Education)<\/a><\/span>, and help plan advisors to educate employers and employees in a simple and coherent manner.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It is often difficult to keep up in the modern fast paced world. Many people sign up for their company&#8217;s 401(k) plan and then do nothing, thinking that the plan will automatically take care of everything. But it will not fly on its own like some fire-and-forget missile. Plan participants need to take on an&#8230; <\/p>\n<div class=\"clear\"><\/div>\n<p><a href=\"https:\/\/rixtrema.com\/blog\/the-importance-of-explaining-401k-related-calculations-to-plan-participants\/\" class=\"excerpt-read-more newsstand-button\">Read More<\/a><\/p>\n","protected":false},"author":3,"featured_media":1897,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[180,224],"tags":[],"class_list":["post-1896","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-plan-fiduciary","category-plan-participants"],"jetpack_featured_media_url":"https:\/\/rixtrema.com\/blog\/wp-content\/uploads\/2018\/10\/The-importance-of-explaining-401k-related-calculations-to-plan-participants.png","yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v15.9.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The importance of explaining 401k-related calculations to plan participants<\/title>\n<meta name=\"description\" content=\"Reasons why 401k advisors need to educate plan participants to take on an active role in managing their 401(k) for the benefit of their financial future.\" \/>\n<link rel=\"canonical\" href=\"https:\/\/rixtrema.com\/blog\/the-importance-of-explaining-401k-related-calculations-to-plan-participants\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The importance of explaining 401k-related calculations to plan participants\" \/>\n<meta property=\"og:description\" content=\"Reasons why 401k advisors need to educate plan participants to take on an active role in managing their 401(k) for the benefit of their financial future.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/rixtrema.com\/blog\/the-importance-of-explaining-401k-related-calculations-to-plan-participants\/\" \/>\n<meta property=\"og:site_name\" content=\"RiXtrema.com\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/LarkspurRiXtrema\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-10-01T15:28:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-02-22T12:40:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rixtrema.com\/blog\/wp-content\/uploads\/2018\/10\/The-importance-of-explaining-401k-related-calculations-to-plan-participants.png\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"550\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@RiXtrema\" \/>\n<meta name=\"twitter:site\" content=\"@RiXtrema\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"1 minute\">\n<!-- \/ Yoast SEO Premium plugin. -->","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/posts\/1896","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/comments?post=1896"}],"version-history":[{"count":2,"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/posts\/1896\/revisions"}],"predecessor-version":[{"id":6160,"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/posts\/1896\/revisions\/6160"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/media\/1897"}],"wp:attachment":[{"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/media?parent=1896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/categories?post=1896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/tags?post=1896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}