7 Most Popular 401(k) Articles of 2021
2021 was a good year for 401(k) investors, and these popular 401(k) articles may be some of the reasons why.
According to Bloomberg Wealth, “The ranks of 401(k) and IRA millionaires are exploding. The number of 401(k) accounts with balances of at least $1 million at Fidelity Investments grew 84% year over year to 412,000, while the number of seven-figure IRAs jumped more than 64% to 341,600 in the 12 months that ended in the second quarter. […] Together, the number of accounts with $1 million or more grew 74.5%.”¹
It’s not only millionaires who are seeing positive 401(k) statements.
CNB reports, “Roughly 17% of workers increased their contributions during this time, more than any previous quarter, while a record 37% of employers also automatically enrolled new workers in their 401(k) plans. And fewer savers tapped their accounts to free up cash. The percentage of workers who made a withdrawal from their 401(k), including for hardship reasons, dropped to 2.4%, down from 6.1% at the end of 2020.”²
That’s not all!
Those who have taken 401(k) loans are paying them back quicker.
SHRM reports, “The percentage of outstanding 401(k) loans is at a record low. Less than 1 in 5 (17.5 percent) of plan participants had an outstanding loan from their 401(k) in the second quarter of 2021, a record low.”³
What does this have to do with popular 401(k) articles?
Well, the key to controlling your financial future is understanding it. That comes from acquiring knowledge.
At 401(k) Maneuver, we are proud to provide individuals with the knowledge and tools they need to find financial success today and in the future.
Our popular 401(k) articles show people are looking for wise advice about how to plan for retirement – and we’re happy to help!
Read on to see the 7 most popular 401(k) articles from 2021.
#1 How to Read a 401(k) Statement and Understand It
If you don’t pay attention to how your 401(k) is performing, understand what you’re paying in fees, or rebalance at least quarterly, you are not in control of your financial future.
That’s why it is so important to read your 401(k) statement.
However, not all 401(k) statements are the same. In fact, there are hundreds of different types of 401(k) statements based on the company you work for and the plan you are in.
The first time you try to read and understand your 401(k) statement, you may feel overwhelmed.
This 401(k) blog post takes you through your statement section by section.
[Read More: How to Read a 401(k) Statement and Understand It]
#2 What Every Investor Needs to Know about Rebalancing a 401(k)
What if we told you that by failing to rebalance, you are essentially turning your investments (and your future retirement income) over to chance?
Failing to regularly rebalance your 401(k) portfolio often results in significant losses during bad markets and opens you up to more risk exposure than you initially intended.
Plus, you may be missing out on earning more and keeping more of your retirement savings.
In this 401(k) article, we explain the ins and outs of rebalancing a 401(k).
[Read more: What Every Investor Needs to Know about Rebalancing a 401(k)]
#3 4 Things That May Help Maximize 401(k) Savings in 2021
Those individuals who enjoyed positive outcomes with their 401(k)s in 2021 probably did a few of the things we discuss in this 401(k) blog.
Those looking to save even more in their 401(k) generally do the four things discussed in this blog:
- Have a retirement plan.
- Engage with 401(k) savings.
- Plan to save even more.
- Regularly rebalance a 401(k).
[Read More: 4 Things That May Help Maximize 401(k) Savings in 2021]
#4 5 Tips for Those Over 40 to Get the Most out of a 401(k)
Many people also sought age-specific advice for those over 40.
This blog is helpful for those who are either just starting to seriously plan for retirement or those who are hoping to maximize 401(k) savings.
With valuable tips and expert advice, it’s no surprise this is one of the most popular 401(k) articles of 2021.
Plus, this blog uses real numbers to make retirement savings more understandable.
[Read more: 5 Tips for Those Over 40 to Get the Most out of a 401(k)]
#5 I’m over 55. What Should I Do with My 401(k) the Rest of 2020?
Another age-specific 401(k) article proved popular with readers in 2021.
With retirement coming up, many individuals look for ways to boost their 401(k) to ensure they live the retirement of their dreams.
This blog provides specific advice on what to do and not to do with your 401(k).
While it was written in 2020, the same advice applies to 2021 and beyond.
[Read more: I’m over 55. What Should I Do with My 401(k) the Rest of 2020?]
#6 6 Ways That May Increase Retirement Savings in 2021
Another year around the sun means another year closer to retirement.
For 401(k) investors who are behind on retirement savings and for those looking to get ahead, this popular 401(k) blog includes 6 ways that may jumpstart retirement savings, such as investing tax refunds and contributing as much as possible.
Not only does this 401(k) blog post tell you what to do, but it also tells you how to do it.
[Read more: 6 Ways That May Increase Retirement Savings in 2021]
#7 One Action That May Boost 401(k) Returns in 2021
People also wanted to know the one thing they could do to potentially boost 401(k) returns.
This 401(k) article has the answer.
Here’s a hint – rebalance!
If you don’t know what rebalancing is or why it is important, this is a must-read. Even if you are familiar with rebalancing, this blog may teach you something new.
[Read more: One Action That May Boost 401(k) Returns in 2021]
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Sources:
- https://www.bloomberg.com/news/articles/2021-08-19/ira-401k-millionaire-retirement-accounts-jump-75-to-record-at-fidelity
- https://www.cnbc.com/2021/05/20/fidelity-number-of-401k-millionaires-hits-record-a-year-after-covid.html
- https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/rising-401k-contribution-rates-fewer-plan-loans-show-return-to-normal.aspx
