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Jun 18, 2008 10:51 am US/Pacific

401K 'Autopilots'

QUESTION: What do you think of "401K autopilots" that companies are offering that makes decisions for employees by default?

ANSWER: I think these plans can be great for those individuals just starting out, or for those individuals who do not want to research each of the available plan options.  It allows you to have some assurance of built in diversification, which is excellent.  Often times, the options can be overwhelming to some individuals.  In which case they do nothing or allocate the contributions all into one option, whether the option is suitable for their objectives or not.




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Money Matters is provided by:

David Schauer, CFA, MSFA, CFP®
Financial Planner
Hanson McClain
E-mail questions to moneymatters@kovr.com


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