Monday, July 16, 2012

Is Your Employer's Turnkey Retirement Plan REALLY the Right One For You?

Is your employer's turnkey retirement plan REALLY the right one for you?

A couple posts ago, I laid out seven questions I believe are necessary to ask in order to ensure that you’ll end up with a retirement strategy that will deliver for you at the end of the day.  As you can see, these questions aren’t anything exotic. In fact, I daresay that there is nothing “special” about any of them.  And that, in most cases, is precisely the problem.
From my observations and continual interactions with folks, it seems that many Americans are looking for some kind of a secret sauce, so to speak. Here’s THE retirement secret sauce:
You’ve got to be realistic, factual, and thorough!
That is it, my friend. Really! A week ago, I discussed figuring out how much income you will need for retirement. Obviously, without knowing exactly where you’re supposed to be, how can you know whether you’re on the right track or headed in a completely different direction?
Once you’ve established your target, the next question becomes: Is the plan or strategy you’re pursing going to get you there? One of the worst mistakes I’ve seen people make in this regard is assuming that any savings program they can find – especially if it’s offered by their employer – will be good enough to deliver their intended retirement income. Pardon me if I repeat myself, but that’s the most terrible mistake you could ever make. And the reason for that is simple: One-size-fits-all plans don’t always fit everyone, do they? And what if you turn out to be the misfit?
No, I’m not trashing your employer’s plan. I simply don’t have enough information to do that, and that’s not my style anyway. However, I am strongly cautioning you against automatically assuming that your employer’s plan will deliver your intended retirement dreams – because in most retirees’ situations, that hasn’t been the case. 
Think about it. When you call to inquire about your plan, do you speak with a different stranger every time? If you’re using your employer’s turnkey retirement plan, the plan wasn’t designed SPECIFICALLY for you by someone who spoke with you, understands your goals, values, desires, and other critical information about you. And the plan wasn’t designed by someone you could hold accountable if the assumptions that went into its design turned out to be dubious.
Doesn’t sound like your retirement plan after all, does it?  
Contact a professional at Laser Financial Group to set up your complimentary, no-obligation consultation and learn about your options for creating a retirement plan that's tailored to YOUR needs and goals. Call us TODAY at 877.656.9111 or visit us on the Web at

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