If your work anniversary is around the corner, you’re one step closer to retirement. It’s also the perfect time to review your financial standing.
Did you get a promotion? Did you get a raise? Did you invest enough for retirement?
To celebrate your professional milestone, there are three things you should do:
#1: Review Your 401(k)
Track your 401(k) fund’s performance over the last twelve months. Did it grow? And by how much?
If you exceeded expectations, consider allocating even more money for retirement. The more you invest now, the more growth you’ll see by your retirement date.
If your returns were underwhelming, consider making alternative investments or changing your target date fund to another year. Rebalancing your portfolio can yield higher returns.