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Insights

Harnessing the Power of Retirement Readiness to Enhance Plan Success and Improve Outcomes

Posted by GuidedChoice on Sep 12, 2018 10:29:14 AM

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Historically, retirement plan sponsors, advisors and recordkeepers have assessed plan health based on fundamental metrics such as participation and deferral rates. While these are significant on their own merits, they don’t reveal anything about “retirement readiness” — that is, how financially prepared an organization’s workforce is for retirement. After all, the key purpose of a workplace retirement plan is to provide employees an opportunity to set aside a portion of their earnings to build financial security for their so-called “golden years.” 

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Topics: Business Insights, financial wellness, retirement readiness, plan metrics, participant readiness, retirement plan health metrics, plan analytics dashboard, DC plan analytics, 401(k) health analytics, plan analytics, plan health metrics

Why Consider A Mortgage Prepayment: 8 Practical Considerations

Posted by GuidedChoice on Apr 27, 2018 3:23:17 PM

Whether you have a surplus in your household budget or have received a lump sum of cash, the decision of where to invest the excess funds can be daunting. An option many consider is to apply it as a prepayment on a mortgage in order to save on interest and eventually pay the loan off early. For example, adding an extra $300 to every payment on a $250,000 30-year mortgage at a 4.6 percent APR will save you more than $75,000 in interest and allow you to pay off your mortgage nine years early.

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Topics: Near or in Retirement, All, Featured, Saving for Retirement, financial wellness, paying off my mortgage, mortage prepayment, Why Consider A Mortage Prepayment?, should I pay off my mortgage

Improving Outcomes: Asset Allocation Alone Isn’t the Answer

Posted by GuidedChoice on Mar 22, 2018 9:45:07 AM

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To date, traditional off-the-shelf Target Date Funds (TDFs) have become the most popular qualified default investment alternative (QDIA) offering in employer-sponsored retirement plans. However, that doesn’t mean they’re the best. TDFs are generally seen as an easy way to help participants put retirement investing on autopilot. And it’s this hands-off nature that appeals to plan sponsors who are responsible for QDIA selection, despite the fact that traditional TDFs have an overly simplistic strategy that falls short in several areas.

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Topics: TDF, Business Insights, Fiduciary Responsibility, Fiduciary Duty, 401k plan, financial wellness, Increase savings rates, investment advice for participants, Participant outcomes, Asset Allocation

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