I recently found an article that perfectly matches my experience advising individual Minnesota company 401(k) retirement plan participants.

Many of my long-time clients have referred me to their adult children. A recent article in The Fiscal Times outlines the 401(k) dilemma for young company 401(k) retirement plan participants.

“Are 401(k) Plans Setting Up Millennials for Pain?”

Target-date mutual funds are the current default investment option in many Minnesota company 401(k) retirement plan menus. It is nice to read that my concerns about those investments are shared by other investment professionals.

Younger workers are often drawn to target-date mutual funds because they don’t understand how the other options in their company 401(k) retirement plan work. These young investors don’t have access to the same investment advice resources as their parents.

If you have a son or daughter who participates in a Minnesota company 401(k) plan, please forward them the link to The Fiscal Times article. There are a growing number of company 401(k) plan advice resources.

Ric Lager
Lager & Company, Inc.

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