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There is no check engine light for your retirement account

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When is the last time you opened the hood of your car and looked at your engine?

If you are like me the car would need to be billowing smoke, dead, or squealing like a cat got caught in the fan belt. And I’m being honest, even when I do look, it’s a mysterious and complicated set of cables and parts that I just don’t really understand.

I imagine most other Americans feel the same way. And when it comes to the average individual dealing with their 401k options and making decisions they’re often staring at a set of complicated and mysterious set of choices that are just plain hard to understand.

Unfortunately, 401k investors are perfectly fine making “educated guesses” where to place their hard earned money, but none of us would guess at where the oil goes and then blindly start filling up different parts of the engine.

So why is it that hard working Americans are more likely to get help changing their oil than managing their investments?

For many it’s bravado. Most (guys especially) crack the hood open, grunt and make a stab at what could be the issue. The 401k investment process can take on the same “I know what I’m doing here, I was a business major after all” tone. For others it’s about not having time. After all, it’s quicker to pop into the nearest car lube. Guessing at 401k investments is admittedly quicker (sometimes). Getting 401k help isn’t.

Whatever the reason folks are willing to pay for an oil change versus getting professional 401k help, you owe it to yourself to pop-the-hood on your 401k and get it checked out. In about 5 minutes, blooom can go in and evaluate the investments and fix your 401k for you.

Many times in life you get what you pay for – neglect your car, you’ll end up broken down on the side of the road. Neglect your 401k and you’ll just end up broke. No biggie.

Pop the hood on your 401k, pay a professional for 401k help and get yourself pointed down the highway to retirement.

Published on September 22, 2016