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To the class of 2013: A Practical Life Lesson



After five years of experience leading a TPA call center in North Carolina, Andrew decided to move west to explore parts unknown and follow his passion of helping others. Walking through the doors of Ubiquity Retirement + Savings, formerly The Online 401(k) for the first time, he knew he’d found something special. Continuing to delight clients and partners alike and 10 years later, Andrew has been able to develop new teams, co-found a non-profit of strategic alliances, co-produce a hard-hitting documentary about the looming retirement crisis, and still had time to spread the savings gospel far and wide. Using social media and actual media alike (Wall Street Journal, Fox Business, PlanSponsor, and more), you’ll find no one who likes talking retirement more than this guy!


May 29, 2013 at 10:55 am
Personal Finance


Now that you’ve graduated, 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. If 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 401(k)s. 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 401(k)s. 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 work force, get to know your benefits. Much of our economy comes from small businesses. If your new job doesn’t have a 401(k), simply ask them to start one up. If you need a recommendation on a provider, let me know. I think I have one in mind.