If your employer’s 401k plan is with a large financial institution like Fidelity or Vanguard, then you’ll most likely also enjoy the same low fees that you would otherwise pay. Some plans even have the simplest of offerings: index funds and target-date funds. This generally includes a small selection of mutual funds that contain everything from large-cap to small-cap companies as well as international funds. Investment Options will be More Streamlinedīecause 401k plans have been around for several years, many plans offer about the same types of investments that people can find on their own with a regular brokerage. In this post, we’ll talk about five reasons why using your 401k could be the best way for the average person to get involved with investing and saving towards financial dependence. A 401k is one of the most popular types of retirement plans offered today by most workplaces. That’s why for those people who would like to take a soft approach to the world of investing, one of the easiest ways to do it is through your employer-sponsored retirement plan – the 401k. It can leave you feeling out of your element pretty quickly! There are so many questions, symbols, charts, etc.
Who can blame them? Downloading a trading app or opening an investment brokerage account can be pretty intimidating. Another 41 percent say they know investing is the right thing to do to prepare for the future, but they’re nervous. According to a poll from Insider, nearly a quarter of Americans (24 percent) say they’re intimidated to invest because they don’t want to lose money.
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