Are you part of the 58% not receiving 401(k) advice?
A few years back, Charles Schwab released a study entitled, “The New Rules of Engagement for 401(k) Success.” 70% of the survey respondents said their 401(k) is their only or primary source of retirement savings. However, only 42% reported having received professional financial advice in the past two years. Schwab’s analysis found that the use of advice can have a significant impact on people’s behaviors in 401(k) plans. Specifically, use of professional advice has a [...]