A Fee Only Fiduciary financial advisory firm
Don't make costly 401k mistakes. Brokerage Specialists offers a yearly consulting service for self-managed 401k portfolios.Learn more
Your current investments may not be best suited for your position in life.Click here to learn more.

Did you realize that your 401k plan is self-managed?

Even though your employer has a company rep who helped you choose a plan, ultimately, you are responsible for managing the 401k plan's outcome. With a proactive approach, you could minimize losses and tax implications and secure your financial future.

Check out our firm's 401k management service program where you get up to four times a year to come visit your financial advisor who can answer your specific questions about your needs in your 401k plan.

Todd and Bailey

We take the pain out of managing your investments

Don't make these three costly 401k mistakes

There are a lot of hidden challenges when it comes to managing your 401k plan. Lifestyle funds have become popular in the past, but based on your current investment style and stage of life. These are pre-built fund strategies that may not take into account market shifts. You are responsible for making changes as your financial situations change.

This is where we can help you during our quarterly meetings in the office or a ZOOM call with your advisor. We meet with clients as they experience changes in jobs and life situations, that ultimately help them to make the right decisions in their 401k plans.

Misktake #1

Leaving 401k balances with an old employer

It seems easier to leave the balance with a previous employer. But you become a plan orphan after you leave. Plan orphans don't usually get fund updates as the market changes. This puts you in an especially precarious position should something happen to you or the market.

You should consider rolling the balance over to a ROTH IRA. Old employee plans are great candidates for ROTH conversions.

If your plan remains orphaned for too long, you run the risk of losing track of your assets. This can result in unclaimed retirement funds, which may be subject to escheatment laws where funds can be turned over to the state or overlooked entirely, potentially leaving you shortchanged in retirement.

Mistake #2

Not taking advantage of an in-service distribution

Are you vested in your employer's 401k plan?

Fully vested employees may have the option to roll over a portion or all of their balance to an IRA without penalties. Many 401(k) plans offer an option called in-service distribution, which allows you to roll over a portion of your retirement savings while still employed. This can be a valuable opportunity to diversify your investments or take advantage of better fund options outside of your employer's plan.

By not exploring this option, you could be missing out on the chance to optimize your retirement portfolio and potentially improve your long-term financial outlook, especially by using a ROTH IRA as mentioned above.

Mistake #3

Does your employer offer a ROTH 401k plan? By maximizing your ROTH 401k plan you save taxes on social security benefits in retirement.

By strategically contributing to a Roth 401(k) while working, you can potentially lower the portion of your Social Security benefits subject to taxation in your retirement years. This can lead to significant tax savings over your retirement years, allowing you to keep more of your hard-earned money for yourself.

ROTH 401k plans don't give you a tax deduction up front, but they give you lifetime tax-free income. Our advisors will give you one of our top strategies using a ROTH conversion strategy with your current IRA that will allow you to have more tax income in retirement.

Click here to get a 30-minute phone conversation or a free consultation.

Todd and Bailey

Secure Your Financial Future With our 401k Management Service Program

Don't leave your retirement savings to chance—schedule your consultation today and take control of your financial future.

Our team specializes in navigating the complexities of retirement savings, ensuring you avoid costly mistakes and optimize your investment strategy.

  • Proactive 401k Management
  • Expert Guidance
  • Avoid Costly Mistakes
  • Optimize Retirement Savings
  • Regular Portfolio Reviews
  • Streamlined Investment Management
Click to Call: 1-800-759-2550*Financial assessment valued at $1100, complimentary to you with no strings attached.

For over 30 years we've helped people achieve their financial goals.

Customer Reviews

I have worked with Todd Hoins and Brokerage Specialists for over twenty years and the professionalism of his staff and his firm has been truly amazing. I have called him on a Saturday afternoon with a question and he answers his phone or calls me back immediately I just really appreciate all that they have done and helped me with over the years..

Customer image for testimonial
Cheryl R.

Todd at Brokerage Specialists has been handling our retirement account for a few years. We are very pleased with how they do yearly reviews with us and always take the time to answer any questions we have to our satisfaction. We can call them anytime with any questions. We have recommended them to family and friends, alike. We always have a good time at the client events they hold. They are very personable and a delight to be around. They have been good to us.

Customer image for testimonial
Ann W.

I have been working with Todd at Brokerage Specialists since 2018. I was still working at the time and rolled over my retirement funds per his recommendations and he pointed out some social security benefits and information that we were unaware of. We have now been retired for almost two years and their advice is working out well for us. We highly recommend Brokerage Specialist and Todd for your retirement planning!

Customer image for testimonial
Jeff V.

Todd is a hard-working, honest person who will go the extra mile to help you plan your financial future. Confidential and non-threatening down-to-earth financial services...

Customer image for testimonial
Mike G.

Todd has always been very helpful. I used to do business with another advisor here in Grand Island, and they always had some excuse as to why my accounts never had any growth. Todd is great to work with.

Customer image for testimonial
John R.

Brokerage Specialists is Google-screened, and has been awarded the Honor Roll award with the Nebraska Better Business Bureau for Professional Standards in Business.

BBB LogoGoogle Screened

Ready for financial clarity?
You'll receive these free financial reports with our financial planning process.

Financial Overview Report

This report provides you with an overall view of all your investments & retirement plans.

Color of Money Report

This report gives you a detailed risk analysis score compared to your current investments.

Social Security Maximization Report

This report provides you with a detailed analysis of your social security benefits and how to maximize them.

Allocation Road Map Report

This report shows you how your investments are invested and allocated to your score goals.

Compass Report

This report brings together all your investments and retirement assets into one detailed retirement report.