If you've always told yourself, "I will get serious about retirement planning next year," well, guess what? It's next year.
There's much you can do to boost your retirement savings and plan ahead. Some of the process involves simply asking your employer to improve your retirement options and education.
Most conscientious employers are always interested in improving retirement plans. It not only helps them keep good employees, it's a good way to make workers feel like they have a long-term stake in the company.
Here are five essential questions to ask:
1 - Can you lower investment expenses? The lower the "expense ratios" of the mutual funds within your retirement plan, the more you can save. Remember that investment managers take a chunk out of your retirement assets to pay themselves. If your 401(k) funds are charging more than 0.50% per year, that's too much.