The ‘Setting Every Community Up for Retirement Enhancement Act of 2019’, better known as the SECURE Act, became effective January 1, 2020. The SECURE act changed many aspects of retirement plans. We discussed some of the components of the act in a blog post this summer.
Target-date mutual funds are one of the most popular default investment options for retirement savers’ 401(k)s. They offer an appropriate mix of stocks and bonds for one’s portfolio, based on your anticipated retirement age. These funds can be a great investment option, but to get the most out of them, you will need to avoid some common mistakes.