Cheat Sheets! The Retirement Questions You Don't Want To Ask

UNDATED -- North Carolina workers don't have the luxury of looking at their retirement paperwork. Much of that information is redacted. But if you can look at your paperwork, do you know what it all means?

Certified Financial Planner Matt Logan said, "You are not taught and the investment world does a great job doing paperwork not in English, so that you are not going to understand it. The best thing to do is actually sit down with somebody, ask your provider through your employer, 'hey I need some help picking investments, ask for a one-on-one meeting."

So if you get that meeting, what should you ask? Logan suggested:

  • What are your investment options and how much risk is right for you?
  • Is your company is matching what you put in?
  • What are they matching your money with?

If it's company stock, Logan said you probably want to make sure you change some of it over, because you don't want all your eggs in one basket. With that in mind, you probably won't retire with the company you're with right now. So Logan said don't forget your money. "A lot of people leave their retirement balances and former employers and never really address them, because it is not top of mind. It is something that is easy to put off. [...] But make sure you take the time to go through those. If sometimes it may be best to consolidate those into an IRA in addition to your current retirement plan."

But how do you even know that??? You need to be educated on what that would mean. Again, the best thing to do is have a one-on-one meeting with your employer's benefits people. But 2 Wants to Know wants you to be armed with information before that.

Matt Logan created several cheat sheets you can use to guide your conversation.

401K Cheat Sheet

Traditional IRA Cheat Sheet

Roth IRA Cheat Sheet

401k Based On Your Generation Cheat Sheet

Matt Logan Inc. is an independent firm with securities offered through Summit Brokerage Services, Inc. Member FINRA & SIPC, and advisory services offered through Summit Financial Group, Inc., a Registered Investment Adviser.


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