Our advisor, Jenna Witherbee, discusses Investment Options and Diversification. This is a continuation of our 8 Steps to Financial Wellness Video Series and serves as an additional resource for Step 2.
Step 2: Set a goal to save at least 5% through your 401(k) Plan
In this video you will learn about asset classes, asset allocation, diversification, and rebalancing. The three main asset classes are cash alternatives, bonds, and stocks. You will also learn how mutual funds works inside of a company retirement plan.
Note: The above video is a 12-minute video
8 Steps to Becoming Financially Well Overview
Step 1: Establish an emergency fund
Step 2: Set a goal to save at least 5% through your 401(k) Plan
Step 3: Develop your understanding of credit
Step 4: Pay down non-deductible debt by creating a budget
Step 5: Max out your Health Savings Account (HSA), if applicable
Step 6: Increase your 401(k) contribution annually until you reach 10%
Step 7: Save for higher education expenses through 529 Plan
Step 8: Pay off your home early
