401K Plan Greensboro NC

Having a 401K plan in Greensboro 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.

Dennis Stearns
Stearns Financial Services Group, Inc.
(800) 881-7374
324 W. Wendover Avenue, Suite 204
Greensboro, NC
Expertises
Retirement Planning & Distribution Rules, Ongoing Investment Management, High Net Worth Client Needs, Planning Issues for Business Owners, Estate & Generational Planning Issues, College/Education Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, ChFc, MSFS

Gregory Yahn
Yahn Financial Planning
(336) 478-2363
7800 Airport Center Drive, Suite 401
Greensboro, NC
Expertises
Middle Income Client Needs, Investment Advice without Ongoing Management, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Ms. Suzanne C. Wilcox, CFP®
(336) 217-0151
300 N Greene St Ste 2150
Greensboro, NC
Firm
Wells Fargo
Key Considerations
Average Net Worth: $5,000,001 or more

Average Income: Not Applicable



Data Provided by:
Mr. Robert D Hudson, CFP®
(336) 369-2982
333 N. Greene Street
Greensboro, NC
Firm
Northwestern Mutual
Areas of Specialization
Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Management, Investment Planning, Long-Term Care, Retirement Planning

Data Provided by:
Dorothy Cameron Aydlett, CFP®
(336) 230-0071
333 N Greene St Ste 506
Greensboro, NC
Firm
Triad Financial Advisors, Inc.
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Divorce Issues, Education Planning, Elder Care, Employee and Employer Plan Benefits, Estate Planning

Data Provided by:
M.James McKee
Stearns Financial Services Group, Inc.
(800) 881-7374
324 W. Wendover Avenue, Suite 204
Greensboro, NC
Expertises
Ongoing Investment Management, High Net Worth Client Needs, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFA, CFP®, ChFc, CLU, CPA, MBA

Mr. Bradley A. Peete, CFP®
(336) 510-5400
333 N Greene St
Greensboro, NC
Firm
Northwestern Mutual Financial
Areas of Specialization
Retirement Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $250,001 - $500,000

Profession: Business Executives

Data Provided by:
Mr. Matthew A. Stratton, CFP®
(336) 510-5430
333 N Greene St Ste 400
Greensboro, NC
Firm
Northwestern Mutual

Data Provided by:
Ms. Carter W. Leinster, CFP®
(336) 230-0071
333 N Greene St
Greensboro, NC
Firm
Triad Financial Advisors, Inc
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Management, Life Transitions, Long-Term Care

Data Provided by:
Mr. John B. Bailey, CFP®
(336) 315-9410
401-A N Edgeworth St
Greensboro, NC
Firm
Ameriprise Financial Services

Data Provided by:
Data Provided by:

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.

Click here to read more from TheAdvice.com