How Much to Put in 401K [and Other Crucial Retirement Questions]

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I love 401K investing but few plan administrators do a good job at answering questions and helping investors to understand the programs. It’s too bad because these are excellent opportunities when it comes to saving for retirement.

In this video, I’m going to show you how a 401K works, how much to put in a 401K and answer all the most common questions in how to invest for retirement.

This is the second 401K tutorial in our three-part series with Blooom, an independent provider of 401K plan investing that connects with your existing 401K plan to help you make your retirement plan work better. The service works with almost any 401K account including Fidelity 401K, Prudential 401K, Vanguard 401K funds and Wells Fargo 401K.

We covered some of the biggest 401K mistakes like 401K loans in the first video and got a lot of questions. I wanted to create this video to answer the most common questions like how much should I contribute and how a 401K works.

What is a 401K?
401K Balances by Age
What is 401K Vesting?
How Much to Contribute to 401K?
Should I Borrow from My 401K?
How to Invest in a 401K

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Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.

The information is provided for discussion purposes only and should not be considered as advice for your investments. Please consult an investment advisor before you invest. Investing involves risk. Your investments are subject to loss of principal and are not guaranteed.

Blooom is limited to the funds available in your employer sponsored retirement plan. There is no guarantee blooom can or will reduce your fund expenses.

Source *Retirees living in poverty: Kaiser Family Foundation analysis of Current Population Survey, 2017 Annual Social and Economic Supplement https://www.kff.org/medicare/issue-brief/how-many-seniors-are-living-in-poverty-national-and-state-estimates-under-the-official-and-supplemental-poverty-measures-in-2016/

Source *42% reduction in fees from Target Date funds: https://www.blooom.com/learn/facts-and-stats/

Source *Forbes quote fees cost to investor: https://blog.blooom.com/pitfalls-going-alone-401k/
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