How Do Your Retirement Savings Measure Up?

How Do Your Retirement Savings Measure Up?

Each year, when it's time to enroll and change up your employee benefits, do you find yourself wondering how much you should be putting into your 401(k), whether you should contribute on a pre-tax or Roth basis, and what actual investments you should use? Do you ever wonder what your colleagues are doing?

If so, you're in luck. Every year, Vanguard comes out with a report that highlights trends from 401(k) plans and other retirement plans it administers, providing a glimpse into Americans' retirement strategies on a broad scale.

So let's dig in: how are other people managing their 401(k) accounts and how do your retirement savings stack up?

Why I Hired a Financial Planner - Even Though I'm a Financial Planner Myself

Why I Hired a Financial Planner - Even Though I'm a Financial Planner Myself

In recent years, I've seen several articles about why hiring a financial planner could be beneficial, even for those in the financial planning profession.

My gut reaction to these articles was, that's crazy talk. I love eating, breathing and dreaming about personal finance and no one cares about my finances more than me. Why would I shell out money on stuff I can do myself?

Recently, though, I had a change of heart. Here's why my wife and I decided to hire a financial planner.

5 Reasons Why Doc Brown Would Have Made a Terrible Financial Planner

5 Reasons Why Doc Brown Would Have Made a Terrible Financial Planner

Finding a financial planner that has the knowledge and ability to optimize your financial situation and look out for your best interest, on all accounts, and at all times, can be really challenging.

Especially when you've already narrowed down the field and are left comparing two seemingly equally qualified professionals, it may be difficult to tell the difference. Sometimes it's helpful to look at an extreme example to highlight red flags.

For anyone that hasn't been living under a rock for the last 30 years, you've probably seen at least one of the three Back to the Future movies. Let's use Dr. Emmett Brown from the trilogy to illustrate some red flags and why he would have made a terrible financial planner.