I’m Young. I Don’t Need A Financial Planner. Right?
Last week I got a phone call from a young client of mine who had a question on what to claim on his W4. He was starting a new job and wanted to run it by me. I was happy to help walk him through it, but made sure to ask what he was planning on doing with the retirement account he had been contributing to with his previous employer and what his new employer offered for retirement options. It was a simple enough question, but it opened up a conversation I was glad we had. It went something like this: Me: Okay, so you’re rolling the assets over to your new employer’s plan. Do you know what investment vehicles they offer and what the match might be like? If any? Or what the vesting period is like? Him: They told me I could roll it right over so I’m going to do that. And I’m not sure… I know there’s a 3% match but I don’t know how it’s invested. They have a lot of options so I’ll pick a more aggressive one. It’s for retirement so I can be aggressive right now. I’m not touch...