A review of investor behavior done by a national investment company showed that the majority of workers with 401(k) plans are managing their own retirement savings accounts. Furthermore, their management “style” is passive; over half of them have not made any account changes or discussed how their investments are doing with an advisor.
If you’re a “do-it-yourself” investor, you should consider reviewing your retirement account’s performance at least once a year. If you do not have the time or talent to manage your 401(k) or other retirement savings account, you might want to look into engaging a professional. Keeping track of investment performance and making appropriate adjustments can make a significant difference in the amount you’ll have accumulated for retirement.
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Written by: Doug Rodrigues