My mom (47F) has been working with this company for almost 20 years now and she has a 401k through them. Every time she goes to check her account, the amount of money is almost always decreasing despite her making contributions to it (idk the exact % she's contributing, if she gets employer match, or how old the account is, but her annual gross income is ~$72k).
What are we doing wrong? I want to help her turn this around because at this rate, there's no way at all that she'll be able to retire (she only has around $2k in the account). I've read through the 401k guides here but I'm still at a lost about how to start tackling this problem.
How do you find out what funds are available to the plan? How do you go about picking these funds once you've identified the best ones? Do you need to talk with an advisor to make these changes or can you do that on your own?
If there's additional info that you guys need to know in order to figure out what's going on, please let me know and I will get it for you.
Submitted August 29, 2017 at 04:27PM by toastymd http://ift.tt/2iG3nPf
