If you ask them often enough, your college-age kids will share the online articles they read. I learn a great deal of information on a variety of subjects by reading the same articles my kids and their same-age friends read.
One of my kids just graduated with an MBA. My other kid is still in graduate school. Each is consumed now with the business world and finding their first job in a world-wide pandemic economy.
Last week, my son sent me the link to a great article by George Mack, a growth marketing and e-commerce expert. The title of the article is, “3 Ways to Attract More Luck Into Your Life.”
Mr. Mack’s point number 3 really hit me. I see this same “poker mindset” all the time with many of my individual company 401(k) investment advice prospects.
The vast majority of individual company 401(k) retirement plan participants think that long-term investment success is luck. I am convinced this is the reason for the overwhelming use of the “buy-and-hope” investment management strategy.
Like the game of roulette that Mr. Mack writes about, these individual investors think that they have no control of their company 401(k) account investment performance.
It’s true than no one can control the long-term direction of the stock markets. But it is also true that the use of independent, third-party investment management technology can improve any company 401(k) investment management decisions.
Please read this article. Then develop a poker mindset regarding how you choose your 401(k) mutual funds. No question that your company 401(k) retirement plan mutual fund menu can be hacked.
The information on the best mutual fund asset classes to own at any given time is widely available. The ranking of each individual mutual fund option on your default company 401(k) retirement plan menu is clear to even the most novice investor.
You can play poker with your company 401(k) retirement plan mutual fund options. You can construct the best possible hand of mutual fund options in a rising stock market environment.
Let’s say you are a “buy-and-hold” 401(k) account investor. Would it not make more sense to own the best mutual funds available to you?
Over your working career, a small reshuffle of your 401(k) mutual fund selections could make tens of thousands of dollars difference in your retirement nest egg.
Improving your mutual fund selections can change your company 401(k) account forever. With a “poker mindset” you will soon realize that luck has nothing to do with the growth and preservation on your retirement savings.
Ric Lager
Lager & Company, Inc.
