401(k) Specialist Issue 4 - 2019 - 16
401(k) BEST PRACTICES
" This kind of thing is being promoted
under the deceptive name of 'financial flexibility.'
We call it stupid. Look, nearly 80% of
your people are living paycheck-to-paycheck.
Forty percent of them can't cover a $400
emergency without borrowing money. Workers
are stressed about money, and they don't
leave that stress at home. It leads to distracted
workers, higher turnover and health care
costs, and it spills over into retirement plans,
leading to lower contributions and people
borrowing from their 401(k)s. We've been
doing this for 30 years and we've learned
that unless there's behavior change, all the
programs in the world aren't going to help. "
SmartDollar is offered by thousands of
companies, he noted, and walks participants,
step by step, through how to save for emergencies,
retire debt, develop a budget and
save for retirement.
" People who never thought they'd retire
are on track to do that. People who never
" One thing we're seeing that's
downright dangerous is the trend away
from changing behavior and toward
making people feel comfortable. "
thought they could put a kid through college
or live debt-free are doing it. It's awesome.
What a great way to show your team you
really care about them and their families, not
by digging them another hole, but by showing
them a way out. "
We concluded by coming full circle, wondering
what advice he would give 401(k)
advisors who want to do a better job for
their clients and their teams.
" Financial advising has evolved from a
sales and product-driven profession to one
centered on providing meaningful financial
advice, " he said. " So, we already talked about
having the heart of a teacher with your
clients. You've got to do that. "
And with teams?
" Remember, bosses push, leaders pull.
People will allow themselves to be led when
they feel valued and treated with dignity. If
you want your business to soar, practice fanatical
integrity. It will unify your team, and
loyalty will naturally follow. In short, serve
both your clients and your team. "
16
ISSUE 4 2019 | 401kSpecialist.com
http://www.401kSpecialist.com
401(k) Specialist Issue 4 - 2019
Table of Contents for the Digital Edition of 401(k) Specialist Issue 4 - 2019
Table of Contents
401(k) Specialist Issue 4 - 2019 - Cover1
401(k) Specialist Issue 4 - 2019 - Table of Contents
401(k) Specialist Issue 4 - 2019 - 1
401(k) Specialist Issue 4 - 2019 - 2
401(k) Specialist Issue 4 - 2019 - 3
401(k) Specialist Issue 4 - 2019 - 4
401(k) Specialist Issue 4 - 2019 - 5
401(k) Specialist Issue 4 - 2019 - 6
401(k) Specialist Issue 4 - 2019 - 7
401(k) Specialist Issue 4 - 2019 - 8
401(k) Specialist Issue 4 - 2019 - 9
401(k) Specialist Issue 4 - 2019 - 10
401(k) Specialist Issue 4 - 2019 - 11
401(k) Specialist Issue 4 - 2019 - 12
401(k) Specialist Issue 4 - 2019 - 13
401(k) Specialist Issue 4 - 2019 - 14
401(k) Specialist Issue 4 - 2019 - 15
401(k) Specialist Issue 4 - 2019 - 16
401(k) Specialist Issue 4 - 2019 - 17
401(k) Specialist Issue 4 - 2019 - 18
401(k) Specialist Issue 4 - 2019 - 19
401(k) Specialist Issue 4 - 2019 - 20
401(k) Specialist Issue 4 - 2019 - 21
401(k) Specialist Issue 4 - 2019 - 22
401(k) Specialist Issue 4 - 2019 - 23
401(k) Specialist Issue 4 - 2019 - 24
401(k) Specialist Issue 4 - 2019 - 25
401(k) Specialist Issue 4 - 2019 - 26
401(k) Specialist Issue 4 - 2019 - 27
401(k) Specialist Issue 4 - 2019 - 28
401(k) Specialist Issue 4 - 2019 - 29
401(k) Specialist Issue 4 - 2019 - 30
401(k) Specialist Issue 4 - 2019 - 31
401(k) Specialist Issue 4 - 2019 - 32
401(k) Specialist Issue 4 - 2019 - 33
401(k) Specialist Issue 4 - 2019 - 34
401(k) Specialist Issue 4 - 2019 - 35
401(k) Specialist Issue 4 - 2019 - 36
401(k) Specialist Issue 4 - 2019 - 37
401(k) Specialist Issue 4 - 2019 - 38
401(k) Specialist Issue 4 - 2019 - 39
401(k) Specialist Issue 4 - 2019 - 40
401(k) Specialist Issue 4 - 2019 - 41
401(k) Specialist Issue 4 - 2019 - 42
401(k) Specialist Issue 4 - 2019 - 43
401(k) Specialist Issue 4 - 2019 - 44
401(k) Specialist Issue 4 - 2019 - Cover3
401(k) Specialist Issue 4 - 2019 - Cover4
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