401(k) Archives - Empathic Finance | Mike Pumphrey, AFC®

Was the 401(k) a mistake?

Posted by Mike Pumphrey on May 13, 2024 | Featured

The 401(k) is the best option that most people have for saving for retirement. But its introduction may have been a mistake. … Read More

Tags: 401(k)

When is the best time to rollover your 401(k)?

Posted by Mike Pumphrey on November 20, 2023 | Featured

Rolling over a 401(k) to an account you own is a good idea, but the getting the timing right is important too. … Read More

Tags: 401(k), market, market timing, rollover

Should you borrow from your 401(k)?

Posted by Mike Pumphrey on September 4, 2023 | Featured

A 401(k) loan is an enticing prospect during financial hardship, and may seem more preferable than a withdrawal, but the risks are vast. … Read More

Tags: 401(k), Jamie Zawinsky, loans

It’s not enough to deposit money in your investment accounts

Posted by Mike Pumphrey on March 27, 2023 | Featured

If you just deposit money in your investment account’s settlement fund and stop there, it could cost you hundreds of thousands of dollars. … Read More

Tags: 401(k), investing, retirement, Roth IRA, Vanguard

Roth, IRA, 401(k), oh my! How to figure out where to put your investment money

Posted by Mike Pumphrey on February 20, 2023 | Featured

If you’re confused about where to put your investments and in what order, I break it down to a simple order. … Read More

Tags: 401(k), investing, investment, investments, retirement, Roth, Roth 401(k), Roth IRA

If you’re thinking about taking an early withdrawal from your 401(k)

Posted by Mike Pumphrey on May 11, 2020 | Featured

New legislation eliminates penalties for some early withdrawals from your 401(k). However, just because you can doesn’t mean you should. UPDATE: This legislation has expired as of the end of 2020. Penalties will apply again for early 401k withdrawals. These … Read More … Read More

Tags: 401(k), emergencies, pandemic

Time to be intentional with your accounts

Posted by Mike Pumphrey on January 6, 2020 | Featured

Verifying your accounts will keep your funds all accounted for, and will help you to decide if it’s time to change servicers. It’s a new year, and with it the usual deluge of good intentions, lofty goals, and everything going … Read More … Read More

Tags: 401(k), access, accounts, new year

Why a 401(k) is the most lucrative investment product for most people

Posted by Mike Pumphrey on September 10, 2018 | Featured

Lord have mercy, my day job just recently started offering a 401(k)! When I switched jobs last year, I was dismayed, as one can imagine, that there was no employee-sponsored retirement plan offered to me. When I asked, as politely … Read More … Read More

Tags: 401(k), retirement plans

Start checking your investments!

Posted by Mike Pumphrey on June 7, 2018 | Featured

When I started at my last job, I signed up for the 401(k). (A 401(k) is one of the most lucrative ways that you can invest in a tax-advantaged way with scale.) I picked some investments, a reasonably diversified set … Read More … Read More

Tags: 401(k), investments

6 example ways to invest your 15%

Posted by Mike Pumphrey on November 9, 2017 | Featured

Save 15% for retirement. You’ve heard it all before. And now you know how you determine how to determine which investment vehicles comprise that 15%. But with so many different options and scenarios, it’s easy to get lost. So here … Read More … Read More

Tags: 401(k), investing, investment, investments, Roth IRA, Solo 401(k)

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