Hobart Financial Group, Leading RIA Provider, Reveals How to Prepare 401(k)s for Retirement

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Hobart Financial Group, a leading RIA provider, responds to an article published by the Wall Street Journal, which details how to prepare your 401(k) for investment.

Chris Hobart, the CEO of Hobart Financial Group and a leading RIA, responds to an article published by the Wall Street Journal discussing how to ensure your 401(k) is ready for retirement.

According to the article on the Wall Street Journal titled “How to Get Your 401(k) Ready for Retirement,” employee investment plans like 401(k)s are often the go-to option for those looking to save money for retirement. While it’s usually a great place to accumulate funds when you’re working, it’s not nearly as beneficial when you leave the workforce. The article says most 401(k)s are “still heavy on stock funds and don’t offer many conservative choices to preserve wealth.”

If a person is within 10 years of retirement, the article states it could be beneficial to make changes in their 401(k) investments. The article gives six tips on how to prepare funds for retirement:

1.    Research target-date funds
2.    Keep an eye on rate-sensitive fixed-income funds
3.    Add variety
4.    Use IRAs as a supplement
5.    See if your plan includes a brokerage window
6.    Seek advice from an RIA

Chris Hobart, CEO and founder of Hobart Financial Group, a leading RIA provider, agrees that 401(k)s need to be monitored and adjusted before retirement to ensure the most amount of return. “Most people think employer provided plans are the best option to generate funds for retirement,” he says. “While it does help workers save money, people often neglect to manage it or check where their investments are headed.”

Hobart says that in order to make sure investments continue to generate a steady income after leaving the workforce, potential retirees should begin looking into target-date funds. “As the article says, these funds help to shift money from stocks into other types of investments as the worker’s expected retirement date approaches,” he says. “It’s important to keep a variety of different investments in your retirement portfolio. IRAs can supplement 401(k)s and give people access to other types of assets.”

Making these types of investment decisions can also be confusing. Hobart advises 401(k) holders to seek advice from an RIA. “RIA’s can determine the most lucrative options for your investments and assist you in making important investment decisions. RIAs serve as a valuable guide to average fund holders that do not know the best way to make important retirement financial decisions,” he concludes.

Hobart Financial Group is an independent North Carolina financial advisory firm dedicated to personalizing service with uncompromising integrity. Its focus on comprehensive, tax-advantaged plans help to provide sound preservation of capital, growing income and increased returns with reduced risk. Chris Hobart, founder of Hobart Financial Group, understands that true wealth means being able to share your life with the people you love, free from financial anxiety. Hobart Financial helps Carolinas’ retirees preserve and protect their wealth with comprehensive financial retirement planning and wealth management.

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Crystal Starks

Scott Darrohn
Hobart Financial
since: 09/2013
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