Want to be a millionaire by the time you retire?
If the answer is yes, then America’s Wealth Coach Deborah Owens has some very important information to share with you in this week’s installment of WealthyU.
Fidelity Investments, one of the largest 401k plan providers, announced they’ve seen the numbers of million dollar plus 401k accounts double since 2012.
Owens explained, “One of the reasons 401k plans have doubled is because of the stock market performance. If anything, take this as a lesson and understand that the market is going to go down, but that’s when you want to continue to invest.”
Owens joined Roland Martin on NewsOne Now to share seven tips that will help you build a million dollar 401k plan and retire in financial security.
WealthyU Tips To Build A Million Dollar 401k Plan:
1) Start contributing ASAP
2) Invest to the amount of employer matching contribution
3) Contribute 10% of annual income
4) No loans or withdrawals
5) Diversify into best performing mutual funds
6) Review annually
7) Rollover contributions
Watch America’s Wealth Coach Deborah Owens break down her seven tips to help you build a million dollar 401k plan and the different investing options that are available to you in the video clip above.
The financial guru is also offering a “21 Day WealthyU Challenge.” Owens’ initiative was designed to help participants “make it a habit to build wealth.”