This post was created in partnership with blooom.
One of the most common questions I get from moms about retirement planning is:
“I contribute to my 401(k), but don’t feel confident I’m investing correctly. I worry I could be earning so much more, but it is all so confusing! Where do I start?”
This is totally understandable! You are doing everything you’re supposed to be doing, contributing to your employer’s retirement plan and taking control of your family’s future. WAY TO GO, MAMA!
I might be a financial journalist, but I am here to tell you: Investing can be exceedingly confusing and intimidating. When managing your 401(k), you receive no guidance, just a list of funds to choose from. How are you supposed to know which are best? Where is the help for what is arguably the most important investment of your life?
Here is the secret the Wall Street billionaires don’t want you to know: They want you to feel overwhelmed and confused about your investments. That is how they convince people to hire expensive advisors who will make you feel in-control — but at a steep price and potentially with hidden fees.
Racket? You be the judge.
I found a partner that is the answer.
Blooom (with three Os!) is your 401k’s new BFF. Just create an account, link your 401(k) and blooom will invest you for long-term growth, based on your age and risk profile. They’ll minimize your hidden fees (which can really add up and eat away at your savings) and monitor your account. blooom will even rebalance your account throughout the year to make sure your investments are aligned with your goals.
Perhaps the best part?
It takes less than 5 minutes to put blooom to work. And the cost? Wait for it … Blooom charges just $10 per month (total, no hidden fees). $10 per month no matter how large your 401(k) grows. The best part – you don’t have to move your money somewhere else (a giant PIA, take it from me. Avoid this at all cost!). Your investment stay right where you have them.
Everything is hands-off and automated, and Blooom’s real-life advisors are on call to answer your questions and educate you about investing any time. Say, for example, if the market goes bananas and you feel you should make a big move (answer: don’t).
They truly are a fiduciary, legally bound to serve your best interest (and not, say, stockholders’ or investors’ interests). Plus, like me, they are Midwestern.
What’s the catch? There is no catch. Don’t like it? Cancel any time. 10 bucks per month. No competition. Free trial. Learn more and get started today at blooom401k.com.