Planning
Why a 401(k) May Not Be a Complete Retirement Plan
The short answer
A 401(k) is an excellent way to save. But a balance is not a plan. A complete retirement plan also answers how you’ll create income, manage taxes, protect your family, and pass on a legacy.
What a balance doesn’t tell you
- Income: How will you turn the balance into a dependable monthly paycheck?
- Taxes: How much of that balance is really yours after taxes?
- Market timing: What happens if markets fall right as you retire?
- Protection: Is your spouse protected if something happens to you?
- Legacy: How will what’s left pass to your children efficiently?
None of this means your 401(k) is bad — it means it’s one important piece of a bigger picture.
See where you stand: The Retirement Readiness Scorecard checks all five areas in a few minutes.
Have questions about your own situation? Tracy is glad to talk it through with you — clearly and without pressure.
Educational only. Not tax, legal, or investment advice. Services offered only where Tracy is properly licensed.