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Your 401(k) Is Just as Important as Your Health

Your 401(k) Is Just as Important as Your Health

Woman at home calculating 401k finances

Author: Sarah Howard

We have collectively experienced the impact the COVID-19 pandemic has had on the world. While it has shared similarities as other past pandemics, this one might as well be considered the most socially shocking. Being denied the ability to live our days as freely as we’re accustomed to has put a damper on our global mentality.

Financially, we can absolutely recover as we have done many times in the past. Taking this pandemic day by day opens up the discussion of our futures, and inquires if we are as prepared as we believe ourselves to be. Rainy day funds and 401(k) retirement plans should not be far from our minds, especially in light of our current circumstances. We have experienced this in the past, we are experiencing it right now, and we will experience it again. These times are questionable, and it’s surfacing a realization that if we don’t rely on our own financial health, similar to how we rely on our physical health, it could lead to greater consequences.

Think About the “Health” of Your Bank Account

If we take our bodies to the doctor for yearly checkups, why don’t we do the same for our bank accounts? The fact is, many people are living paycheck to paycheck, whether they have a wonderful salary or not. The amount of money a millennial can spend online shopping is about as impressive as it is frightening, and we have let this become a normalcy. Consumerism is the main structure of our economy, but it has somehow created a barcode for happiness and fulfillment. The simple luxury of “add to cart” is replacing rationality, thus impacting the health of our finances and our futures. Striving for healthier bank accounts should be paramount, yet few of us are treating it as such.

What Do Well Fed Finances Look Like?

As science has it, a balanced diet means the right mixture of vitamins, minerals, antioxidants and lean proteins. When we feed ourselves responsibility, our bodies stay alert and strong. The same goes for your earning and spending preferences. Right now many are under the impression the more money they earn, the more money they have to spend. Instead, it should appear as more earning means more savings. Oftentimes, spending is more convenient than saving, much like going to a drive-thru is much easier than cooking. Albeit, all it takes is extra effort to make the healthier choice. It is also being taken into account that there are circumstances in which spending is imperative, such as rent, bills, and necessities. However, when we break down our spending habits and our eating habits, we see that some choices are under the guise as a necessity, when ultimately it could be removed from your lifestyle all together. When you start as small as removing an expense, and replacing it with a frugal option, the health of the bank account will begin to improve.

Exercise Your Retirement Plan

Planning for retirement is a lifelong endeavor. Plans need consulting, attention, and sometimes adjustments depending on the market. The lifestyle of your finances is a reflection of your choices and efforts and financial preparation is tantamount to your bank account having a strong immune system. Results can’t happen overnight, but small changes can. Gaining power over your finances and your 401(k) plan greatly improves the balance of your self and your future. You should prefer to feed your retirement plan the right way, just like you would your body. Make sure to stay active and aware, but don’t forget, bank accounts need rest too, just like the human body. So, put down the credit card and pick up the phone to consult your financial advisor. As Macino Financial Services states, “plan today for a better tomorrow.”

Start Optimizing your 401(k) today.

Call our office today at 419-491-0909 to set up your plan for Optimizing your 401k plan and thus allow us to make your retirement relaxing.

Investment advisory services are offered through Virtue Capital Management, an SEC Registered Investment Advisor. Macino Financial and VCM are independent of each other. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. SEC registration is not an endorsement of the firm by the Commission and does not mean that the adviser has attained a specific level of skill or ability. All investment strategies have the potential for profit or loss. Changes in investment strategies, economic conditions, contributions or withdrawals may significantly alter a portfolio’s performance. There is no guarantee that any specific investment or strategy will be suitable or profitable for a particular client. Past performance is no guarantee of future success. We cannot guarantee that a portfolio will match or outperform any particular benchmark. None of the content should be viewed as an offer to buy or sell, or as a solicitation of an offer to buy or sell the securities discussed. Information on this website does not involve the rendering of personalized investment advice, but is limited to the dissemination of general information on products and services. A professional adviser should be consulted before implementing any of the options presented.
The firm only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. State registration is not an endorsement of the firm by the Commission and does not mean that the adviser has attained a specific level of skill or ability. All investment strategies have the potential for profit or loss. Changes in investment strategies, economic conditions, contributions or withdrawals may significantly alter a portfolio’s performance.
There is no guarantee that any specific investment or strategy will be suitable or profitable for a particular client. Past performance is no guarantee of future success. None of the content should be viewed as an offer to buy or sell, or as a solicitation of an offer to buy or sell the securities discussed.
Information on this website does not involve the rendering of personalized investment advice but is limited to the dissemination of general information on products and services.