401K Plan Asheville NC

Having a 401K plan in Asheville is a critical factor to building a nest egg for retirement. Whether you stop contributing or not is up to you, but I recommended that you contribute something every paycheck, especially right now since the market has dropped substantially.

Robert Blanke
Braeside Financial Planning, LLC
(828) 398-2816
37 Haywood Street, Suite 200
Asheville, NC
Expertises
Cash Flow/Budgets/Credit Issues, Retirement Planning & Distribution Rules, Planning Issues for Business Owners, Investment Advice without Ongoing Management, Newlyweds & Novice Investors, Middle Income Client Needs
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Michael Collie
Collie Financial Planning, Inc.
(828) 654-8830
One Town Square Blvd, Suite 206
Asheville, NC
Expertises
Retirement Plan Investment Advice, Ongoing Investment Management, Charitable Giving - Trusts & Foundations, Helping Clients Identify & Achieve Goals, Women's Financial Planning Issues, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, AIF, CFP®, CMFC

Richard Manske
Parsec Financial Management, Inc.
(828) 255-0271 Ext: *812
PO Box 2324
Asheville, NC
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues, Advising Medical Professionals, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, BBA, CFP®

Kenneth Downer
Kenneth Frenke & Co.
(828) 654-9343
15 Loop Road, Suite 105
Arden, NC
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Cash Flow/Budgets/Credit Issues, Middle Income Client Needs
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA

Mr. Neal Arthur Nolan, CFP®
(828) 255-0271
6 Wall Street
Asheville, NC
Firm
Parsec Financial

Data Provided by:
Al Davis
Davis Financial Planning, LLC
(828) 398-5050
82 Patton Avenue, Suite 720
Asheville, NC
Expertises
Retirement Plan Investment Advice, College/Education Planning, Estate & Generational Planning Issues, Middle Income Client Needs, Tax Planning, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Joel Kelley
Woodstone Financial, LLC
(828) 225-1730
30 Town Square Blvd
Asheville, NC
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, College/Education Planning
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, M.Ed.

Bart Boyer
Parsec Financial Management, Inc.
(828) 255-0271 Ext: *812
PO Box 2324
Asheville, NC
Expertises
Ongoing Investment Management
Certifications
NAPFA Registered Financial Advisor, BS, CFP®

Kenneth Frenke
Kenneth Frenke & Co.
(828) 654-9343
15 Loop Road, Suite 105
Arden, NC
Expertises
Ongoing Investment Management, Charitable Giving - Trusts & Foundations, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules, Financial Issues Between Generations, High Net Worth Client Needs
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, MS

Mr. G. Robert Gillis, CFP®
(828) 232-3745
1 Haywood St
Asheville, NC
Firm
Wells Fargo Bank
Areas of Specialization
Banking, Business Succession Planning, Estate Planning, General Financial Planning, Intergenerational Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $100,001 - $250,000

Profession: Business Executives

Data Provided by:
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401K Plan

Simply put the answer is yes - absolutely. Here are the reasons why. Let’s assume you took a substantial hit to your 401K plan when the stock market plummeted approximately 40%.

The amount of stocks, bonds, mutual funds, and other holdings that your 401K provider continues to purchase at the currently lower prices will eventually increase in price once the stock market rebounds. If you do not contribute, you will be losing out on the potential increase your overall portfolio will obtain.

The basic rule of investing is to buy low and sell high. Now is therefore a great time to make substantial contributions to your 401K, especially if you are a young individual who has just entered the business world or if you are five to ten years from retirement. It’s a good idea to check with your 401K plan provider or employer to determine what the maximum contribution is and, if at all possible, whether you can meet that amount annually.

If you cannot afford to maximize your contributions, you can determine what percentage you can afford per paycheck so that at least you are contributing something to the plan. For example, let’s assume you can only contribute 5%. Take time to set a household budget and then determine how much you can afford to contribute to your 401K. Perhaps you can start with 5% and increase it by 1% each year, until you reach the maximum allowed. Remember also that the contributions to 401K’s are pre-tax so that the bottom line impact to your take home check will be much less.

Having a 401K plan is a critical factor to building a nest egg for retirement. Whether you stop contributing or not is up to you, but I recommended that you contribute something every paycheck, especially right now since the market has dropped substantially. Remember the basic rule of investing – buy low and sell high – and take advantage of the significant drop in the stock market.

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