Is this the most expensive mistake?
Plus how financial grownups can sleep better at night
Friends,
This is one of those things that you knew sometimes happens but you didn’t realize how common it was, and how bad the damage can be.
Apparently, when we leave jobs and move money from our 401 (k)’s into IRA’s, we forget to do one big thing: invest the money.
For most of us, when our money is taken out of our paycheck, it automatically goes into investments if we have set up our retirement allocations correctly. Not so with an IRA. You need to choose investments or the money will sit in cash. Some of us simply don’t know to do that. Some of us procrastinate and then time goes by. Either way, it is not good.
The research was done by Vanguard and is alarming. Apparently 28 percent of IRA investors leave rollovers entirely in cash for 7 years! Americans with cash-heavy IRAs give up more than $172 billion a year in retirement wealth they could have generated by investing in stocks and bonds, the Vanguard study estimates.
If this is you- please go immediately to your account and make some investment decisions.
Here is a link to read the story for free in the WSJ.
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The simple answer to getting a better night’s sleep
How did you sleep last night?
Maybe you should consider making some upgrades in your savings habits!
A new study shows that saving money may be the secret to better sleep.
NewsNation’s Hena Doba and I chatted about it this weekend... including some tips on the best ways to get started, and to get the most out of your savings.
Watch the segment below and then please share your best money tips to sleep better at night!
Do you or your co-workers want to set yourselves up for savings success?
As always, we are here to bring financial wellness programming to life for your teams through our in person workshops or virtual Q&A sessions.
Learn more about us on our website., then Get in touch, or let us know who we can reach out to at your company.
We look forward to getting started!
Poll Results: It’s a lost cause..
When it comes to getting prices sent to us based on our purchasing patterns and other behavior, we are resigned to living in the new world:
How can we help?
As always, we are here to bring financial wellness programming to life for your teams through our in person workshops or virtual Q&A sessions.
Lets connect on TikTok, Instagram, and LinkedIn and please share any ideas in the comments (or just say hi!).
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