Ubiquity
Free Consultation 855-401-7253 Call

Tag: 401(k)

Hey there present-day Lisa – it’s me, future Lisa,

I just wanted to send you a big huge THANK YOU, because your smart savings plan has resulted in a kick-ass retirement for me and hubby. That’s right, we bought our flat in Paris, and we spend the days sipping red wine and sampling gorgeous French cheeses. C’est le paradis!

Remember that Louis Vuitton bag that you were going to buy in 2012, but instead chose to take that money and throw it into your 401k? Well, that decision has paid off for you ten-fold, because now that you are living the good life here in Paris, you can shop the boutiques all the days because you don’t have to work anymore. I know there were times when you had to sacrifice the wants and be responsible, but trust me, you are a lot happier now for it. You don’t have to rely on your kids to support you; instead, you get to spend precious time with your grandchildren because you don’t have to worry about working.

Retirement is great!

It seems like just yesterday that you took your first job out of college, and they handed you all the new hire forms, one of which was enrollment in a 401k plan. I know at the time you didn’t really know what it was, only that your parents told you that you should start saving, so you did. And that money grew. And grew and grew and grew and those years that seemed SO FAR in the future went by in a flash. Yes, the market went up and it went down, but overall those few dollars you saved back when you were 21 years old have grown into a few million dollars by now.

Plus, your husband was also super responsible and squirreled away lots of cash into savings all while telling you that you were “over-budget” for the month. Maybe he exaggerated just a little bit, but he knew you would want to spend it and he knew he had to save for your future. I just gave him a big thank-you kiss for that one! Merci, Mon Cherie!

When you were in your twenties, retirement seemed really far away, but now that you are in your late-thirties, you realize that time goes by faster than you want it to and now you have a family to think about. Making a few sacrifices now to invest in your future is not only the SMART decision, it’s the ONLY decision.

So thank you, again. I am off to grab a croissant and browse around the Louvre. They have a new Chagall exhibit and you know how much you love his paintings.

A bientôt,

Future Lisa

As the Mom of a 8-year-old, it’s hard to imagine that one day he may be graduating college. Those years will go by faster than I will want them to, I have no doubt about that, and there is a lot I need to teach “D” between now and then! I have been thinking about what I would say to him if that time was already upon us, and so here is my letter to my future college graduate:

Dear (future) D,

As you graduate college, I want to impart some knowledge and advice that I have acquired throughout my lifetime. I hope that as you start on this next phase of your life, you will keep these words close to your heart.

Be true to yourself – Don’t ever sacrifice your morals or integrity because someone asks you to. If you find yourself in a job or situation that makes you uncomfortable, just walk away. It’s easier to cut ties than to live with the consequences of making a bad decision. Have the courage to walk away!

If money is the answer to what you like most about your job, then it’s not the right job for you – Whatever career path you choose should bring you happiness, help others and be rewarding on many different levels, not just financially. The worst thing about a high paying job is that you will adjust your standard of living to meet that salary, and it’s hard to ever go back. If money is what is driving you, then it’s time to rethink your priorities.

Fund your 401k from your very first paycheck – Retirement seems like an ambiguous concept, but it’s not. Somehow time moves more quickly when you become an adult, and your ’20s will become your ’70s in a blink of an eye. You’ll want to live out your golden years without worry and anxiety, and you won’t be able to enjoy yourself if you haven’t planned accordingly.

No one will ever love you more than your Mom – It may sound like a cliché but it’s not. There is nothing stronger than a bond between a mother and her child, and no matter what happens, I will always be here for you.

There is only one Mother Earth. Respect her and protect her – Generations before you have already started down a path of destruction. There have already been many things done to our precious earth that cannot be reversed. It’s up to your generation to prevent any more harm from taking place. Fight against the people and companies who care only about profits and nothing about humanity.

Better to try and fail, than to not try at all – Many people go through life afraid of taking chances because they are afraid to fail. I encourage you to take a chance and dream big because you never know what will happen. So what if you fail? It just means you have another opportunity to succeed.

And I will end this letter by reminding you of the one thing that I have been saying to you since you were born. If you can live by one principle alone, then let it be this one: Love Others – because at the end of the day, nothing else really matters!

Love,

Mom

 

 

Hey, graduates, you may be thinking to yourself how much of what you just endured will actually be used IRL (in real life). If you’ve just graduated from High School, you’re thinking Algebra will NEVER come in handy. In college, it’s likely you barely remember what class you got up for, but probably remember the first beer you legally purchased. Those of you finishing your masters or doctorate, you’re free to brag that you remember every detail of your education (yeah, right).

We all took economics in our High School years. We may have even taken something like that in college somewhere along the way. It’s during this course when you likely spent at least one period talking about 401ks. It’s so buried in all the other things you need to remember that it’s difficult to actually recall when you need to. This is where real life education and what’s actually taught in school start to diverge.

You actually know more than you give yourself credit for. For all our new hires, I teach a class on Intro to 401ks. I begin by finding out how much my students actually know. Turns out, all the basics are normally covered.

• It’s a retirement account provided at work.
• Money is taken from your paycheck pre-tax.
• Sometimes there’s a match.
• Your money goes into mutual funds you can manage.

There you have it. It’s the simple basics that are easy to understand and true in most circumstances. Are there differences? Yes. Are these overgeneralizations? Probably. However, there’s one unmistakable truth: Saving at work provides more benefits than your savings account and could result in free money.

As you’re out there entering the workforce, get to know your benefits. Much of our economy comes from small businesses. If your new job doesn’t have a 401k, ask them to start one up. This is the benefit that keeps on giving directly to you.

Welcome to the farm otherwise known as the stock market.

So what the heck does Bull vs. Bear market mean? It’s actually quite simple:

  • Bull: Everything is fabulous, the economy is booming, stocks are rising, and unemployment? What unemployment?
  • Bear: Market is hibernating! It’s bad, the recession is looming.

So, you think that playing the market all the time with your retirement is a good plan?

Actually, over time, it all equals out. There are stocks in the bear market that do well, and conversely, there are those in the bull market that tank. Depending on how you invest—conservative, moderate, or aggressive—and where you are in your life—whether you are just starting to invest, are are a late bloomer like me, or are sitting at the gates of freedom—these things could alter or modify your course of action.

Talking with a financial advisor is your best bet. They’ll help determine where you are and what your financial goals should be. The fact is, the majority of people under-save! Things to consider:

  • When do you want to retire? Have you thought about the fact that people are living longer? If you retire at 65 and live to be 100 (I plan to live to 102), that’s a significant nest egg you’re going to need.
  • What does retirement look like for you? Are you going to live at the same level as you are today? Are you downsizing? Do you have adequate health insurances in order to not exhaust your savings in the event of an unforeseen crisis?
  • How much time do you have and how much do you have saved? I’ve just turned 43 and have enough to get me through about… a year of life? I have been paying into Social Security if I am fortunate to have it exist when I retire, but that is essentially a future flying autonomous car payment and solar charging station refill fee. I need to be incredibly aggressive at saving and my financial adviser had no problem saying so.

You don’t have to be a financial genius in order to start. There are people who do this for a living—your goals and your success are theirs as well.

There is only one mistake you can make right now. ONE! That is NOT getting started, NOT saving enough, and robbing yourself of comfort and happiness when you stop punching a clock. Ok, maybe that’s three, but they are all connected!l

PS. Want to know more about the looming retirement crisis that is affecting every single one of us? Get involved and join the conversation with this must-see documentary, Broken Eggs: The Looming Retirement Crisis in America. Bonus! It’s free. You just need to bring the popcorn.

The retirement industry is full of options. You can have flexibility on so many things that it may not be clear to the small business what to chose and from whom. In this episode of Chad Chats, from Ubiquity Retirement + Savings, formerly The Online 401k, you will learn what features make a great plan. Every small business is different, but that doesn’t mean your retirement plan has to be complicated. From investments to plan design, Chad gives you tips on what to ask for when you’re setting up your company’s new retirement account. If you have an existing one, you may learn something that will make managing your current plan even easier.

Here’s to you, small business owner, for setting up the right retirement plan for you and your employees!

A throwback to Ubiquity Retirement + Savings’ history, here, we get a glimpse at the genesis of our company that started as The Online 401k.

“In the first episode of Chad Chats, I recount how and why I started The Online 401k. My mission: to help the 40 million Americans who do not have the ability to save at work. Take less than two minutes and check out the video below!”

Crisis? What Crisis?

Sylvia Flores / 7 Feb 2013 / Ubiquity Insights

I did it. I put my house (crisis) up for sale. Now, I’m doing it FSBO for the moment—but I suspect that I will begin getting hit on by every real estate agent within a 20-mile radius. You want a piece of this? Yeah, you do.

One of my goals in 2013 is to get the heck out of debt and to get substantial savings in place. Another is to reduce the amount of crap I have. And that crap includes my underwater, in foreclosure home, which—by the way—could house a family of 8 comfortably. That being said, I am a family of two. We have about 2,000 more square feet than we could possibly need.

HAPPY NEW YEAR! To me.

So far, I’m off to a bangin’ start for 2013. I’ve increased my contribution limit for my 401k to 10%. <— What?!? YEAH! That just happened! And with that 4% match from my company, I am feeling good that I am working towards securing my future while NOT leaving free money on the table. I love free money. (You complete me, free money!)

The thing is we are in a totally different America than we were in just seven years ago. Getting a $100K credit line (while being totally undeserving of such a thing) is no longer happening. One does not just waddle out and get a home loan without a soaring credit score. I’ll tell you what—I want none of it. You can take your credit and shove it, Wall Street!

I am reimagining my life.

What do I want to be when I grow up? Not a MORON.

How do I get there? I am embarking on an adventure of discovery; one where I am no longer giving into my “I want, what I want, when I want it, which is now” previous attitude. The house needs to go. My kids are in college. The last kid is moving out in a short 6 months  (booo). That means I need to find an apartment or a house to rent. And guess what—maintenance of said house as far as repairs and appliances and taxes? Not my problem.

My house is a money pit.

My taxes every year in this pit are insane. And maintenance of the beast? Don’t even get me started. What I can save conservatively by finding a place for rent will get me out of debt within this next two years. Maybe even one year. And guess what? My house is not my retirement. My retirement plan that is compounding interest.

Resolutions. Why not?

2013 is going to be an awesome year. First off, the Mayan Apocalypse didn’t happen. But the looming retirement crisis still is—so what are you going to do to make sure your future self is secure and happy?

 

© 2018 Ubiquity Retirement + Savings / Privacy Policy
1160 Battery Street, Suite 350, San Francisco, CA 94111 / Support: 855.401.4357

© 2018 Ubiquity Retirement + Savings / Privacy Policy
1160 Battery Street, Suite 350, San Francisco, CA 94111 / Support: 855.401.4357