401K Plan Winston Salem NC

Having a 401K plan in Winston Salem 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.

Barry Swaim
Wealth Management Group, Inc.
(336) 760-4829
3401 Healy Drive
Winston-Salem, NC
Expertises
Retirement Plan Investment Advice, Planning Issues for Business Owners, Retirement Planning & Distribution Rules, Investment Advice without Ongoing Management, Middle Income Client Needs, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®

Mrs. Laura E. Banasiewicz, CFP®
(336) 774-2808
P.O. Box 26043
Winston Salem, NC
Firm
Allegacy Investment Group

Data Provided by:
Mr. Jeremy Landon Stanley, CFP®
(336) 714-7400
100 N Cherry St Ste 350
Winston Salem, NC
Firm
LPL Financial Wealth Management
Areas of Specialization
Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Management, Retirement Income Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Mrs. Amy L Jucoski, CFP®
(336) 747-8931
One West Fourth Street
Winston-Salem, NC
Firm
Wells Fargo

Data Provided by:
Mr. Dustin A. Koufman, CFP®
(336) 724-1810
100 North Cherry Street
Winston Salem, NC
Firm
Holden & Mickey, Inc
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning, General Financial Planning

Data Provided by:
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

Mr. George H. Knostman Iv, CFP®
(336) 884-0410
Sharrard, McGee & Co., P.A.
High Point, NC
Firm
Sharrard McGee & Company

Data Provided by:
Mr. Joshua R Donley, CFP®
(336) 464-9966
101 N Cherry St Ste 504
Winston Salem, NC
Firm
Mosaic Capital Management, LLC
Areas of Specialization
Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Management, Retirement Income Management
Key Considerations
Profession: Medical/Dental Professionals

Data Provided by:
Joe Boone
942 W. 4th Street 202
Winston Salem, NC
Years Experience
Years Experience: 8
Service
Pension for Highly Compensated Owners,Stock Market Alternative,Wealth Management,Annuities,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Retirement Income Distribution Planning,Life Settlements,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Life Insurance,Alternative Asset Class Planning,Commission-Only Financial Planning (Full Disclosure),Estate Tax Planning,Asset Protection Strategies & Planning,Wealth Engineering,401k Rollover From Employer,Income for Life/ Preserve Pri

Data Provided by:
Mrs. Jennifer Wingler Johnson, CFP®
(336) 397-1406
524 North Trade Street
Winston-Salem, NC
Firm
Blue Rock Advisors

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.

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