How to invest and manage an Empower 401k, 457b, 403b, IRA, deferred comp or any other account you have with empower. We’ll cover the different types investments in your Empower retirement account and how to choose the right ones for your needs. We’ll also discuss setting up withdrawals from your paychecks, adding beneficiaries, and using a brokerage account through your 401k, 457b, IRA or 403b.
If you’re looking to invest in your future, be sure to watch this video! We’ll cover everything you need to know to get started with investing in an Empower 401k, and help you reach your financial goals. Thanks for watching!
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This video is not sponsored. Some product links are affiliate links which means if you buy something I may receive a small commission at no extra cost to you. This is not investment advice.
00:00 Login & Account Overview
02:00 Rate of Returns
02:27 Add Beneficiary
02:53 Change Paycheck Contributions
04:00 How to Invest
06:45 How to Pick Investments
09:10 How to Take a Loan
09:19 Brokerage Account Option
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Empower 401k: HOW TO INVEST and Manage Your 401k, 457b, IRA, or 403b
Saving for retirement is crucial for a secure and comfortable future. One of the most popular retirement saving options is a 401k, but many people often overlook the importance of effectively managing their investments. That’s where Empower 401k comes into play. In this article, we will explore how to invest and manage your 401k, 457b, IRA, or 403b with Empower.
Empower Retirement is a leading provider of retirement plans and investment solutions. Their range of services includes offering personalized advice, retirement planning tools, and account management for individuals looking to grow their retirement savings effectively. With Empower 401k, you can take charge of your financial future and make informed decisions about your investments.
Here are some key steps to help you invest and manage your retirement savings with Empower:
1. Educate Yourself: Before embarking on any investment journey, it is crucial to educate yourself about the options available to you. Empower provides comprehensive resources and educational materials to help you understand retirement planning, investment options, and the benefits of diversification.
2. Assess Your Risk Tolerance: Understanding your risk tolerance is critical for making investment decisions. Empower offers risk assessment tools to help you determine how much risk you are willing to take on with your retirement investments. This will help in selecting the appropriate asset allocation for your portfolio.
3. Diversify Your Investments: Diversification is key to managing risk and increasing potential returns. Empower offers a range of investment options, including stocks, bonds, mutual funds, and exchange-traded funds (ETFs). By diversifying your investments, you reduce the risk of being heavily affected by a single asset class’s performance.
4. Regularly Review Your Portfolio: Markets are constantly changing, and it’s essential to review your portfolio to ensure it aligns with your retirement goals. Empower provides tools that allow you to track your investments’ performance and make adjustments if necessary. Regular reviews will help you stay on track towards meeting your retirement objectives.
5. Seek Professional Advice: Empower offers personalized advice from retirement planning professionals who can guide you through the investment process. They can help you create a customized investment strategy, review your portfolio, and provide ongoing support to help you make the most of your retirement savings.
6. Take Advantage of Employer Matches: If your employer offers a 401k match, make sure to contribute at least enough to receive the full match. It’s essentially free money that will significantly boost your retirement savings.
7. Consider Additional Retirement Accounts: In addition to a 401k, Empower can assist you in managing other retirement accounts like a 457b, IRA, or 403b. They provide guidance on how to maximize contributions to these accounts and help optimize your retirement strategy.
Empower 401k offers a comprehensive platform that empowers individuals to take control of their retirement savings. By understanding the available investment options, regularly reviewing your portfolio, seeking professional advice, and taking advantage of retirement account options, you can effectively manage and grow your retirement savings with Empower.
Remember, retirement planning is a long-term commitment, and it’s never too early or too late to start investing in your future. Take advantage of Empower’s comprehensive services and secure a financially stable retirement.
About time I find a video that gets to the point and makes sense. Thanks so much!
New to investing and just got my 401k setup. Maybe a dumb question, but why would you split up the investments and not just dump it all into the highest rate of return for like the 5 or 10 year average?
I just got a check from empower and I’m so confused why. It’s only like $150 but like why did I get it??
This is exactly what I was lookin for. I appreciate you making this!
IAM I going to get phone call like they used to as personal capital?
empower sucks
Empower = hot garbage/borderline scam
Can anyone help! My bf has empower and we are searching for how many actual shares he own. He has his stocks but no way to see how many. Does anyone know if the account offers this infor??
empower is a disgusting company & if you are about to become homeless for some reason, you'll never get your money in time! screw them!
If your employer uses Empower, I’m sorry! Empower is one of the worst retirement companies ever. If you get in touch with their customer service, you can hear their employees’ tone of voice too! People use Empower are miserable by the service, and the employees at Empower are treated poorly as well so no one is actually happy with their jobs. Sad thing is, if your employer uses Empower, then you don’t have much of a choice. Empower also outsources tons of its services to India!! It’s a horrible and greedy company, you’re better off with Fidelity or Voya or with a private financial institution.
My work 457 switched from Mass Mutual to Empower.
Good stuff. Thanks for this. I'm wondering if using the budgetting / planning tab is good enough or should i look into a budgeting app like Personal Capital ( part of Empower )
My wife works at a public school. She has a 403b, however it doesn’t appear that her school/district offers a match. Is this normal?
Thank you so much for making this video! I'd be interested to see what other content you make about the Empower accounts. Sometimes I feel like I'm not managing my account properly.
What if I'm invested in 10 or more investments? Is that good or should I narrow down to a few?
Quick Ask – EMPOWER Scenario – If I take a 401K loan from my 401K account and mid way decide to leave the employer – do I have to pay the remaining balance before I quit the employer or can the loan balance be transferred to new employer and can be taken from the new employer paycheck – TIA.
Lastima que no hablan Español no entendí nada
I'm new to empower I started my new job a year and I been taking full advantage of it. I got about 4k in there after my first year only making 18 an hour. I been invested in the stock through empower but its been a constant negative 7% or more. This really helped me understand how to work through it and figure out how to move money around
this video needs way more love and support this is a get to the point easy very informative video that has personally helped me with my roth at work !! Thanks for taking the time and making this for others to see and learn from well done !
Empower told me yesterday the “per pay period” is based on an annual basis. I had asked him whether to do a certain amount vs the percentage. And so I did 5% and it showed $2000, which seemed high per pay check. And that’s when he told me the “per pay period” is based on the annual. What do you think though?