Employee Success Story: Re-Prioritized Expenses
Age

Late 30s

401k in your 30s
Short-Term Goal

House repairs

401k early 30s
Savings

0% of his retirement needs

SUCCESS STORY: Start Saving

Employee Success Story: Re-Prioritized Expenses

participating in the company's 401(k) plan
High Five!

One-on-one enrollment meetings like this are common when Fisher Investments 401(k) Solutions comes on-site to meet with employees. In fact, businesses we serve see an average increase of 67% in their 401(k) plan participation rates.

Re-Prioritized Expenses

Opportunity

One of our client’s employees, James,* in his late 30s had just bought a house but wasn't participating in the company's 401(k) plan.

how much to save on your 401k early 30s

Employee’s Obstacle

James felt financially-stretched with his new house payment, and was worried about being able to save for future unforeseen emergency house repairs. Like most people in this life stage, James found it difficult to prioritize something that seems so far offlike retirementagainst today's living expenses.

Prioritize savings 401k

Our Solution: Re-organize and prioritize savings and expenses

When Fisher Investments 401(k) Solutions visited James’ employer for on-site 401(k) enrollment, Service Associate Jordan sat with him one-on-one to discuss his unique life circumstances and retirement goals. James was skeptical that he’d be able to start saving at all, but knew that eventually he would have to prepare for retirement. His plan was to wait for his next raise—a common refrain that our Service Team hears from many workers. Jordan helped James breakdown his expenses and expenditures, and determine areas where spending could be cut to save for retirement and emergencies. Plus, Jordan demonstrated the power of compound interest, which shows how much more his retirement savings could grow based on saving earlier rather than later.

401k start saving

Results

Jordan showed James how to use an income calculator tool to map out how much money he needed to save to be on track for a comfortable retirement. Together, they:

  • Identified his personal retirement savings goals
  • Reviewed his expenses and found areas where certain expenditures could be converted to savings
  • Started his new 401(k) account with contributions that fit his budget
employee 401k plans

Employee Success

One-on-one enrollment meetings like this are common when Fisher Investments 401(k) Solutions comes on-site to meet with employees. In fact, businesses we serve see an average increase of 67% in their 401(k) plan participation rates.1

1Fisher Investments 401(k) Solutions enrollment data as of 1/1/2018

*Name changed for employee confidentiality

SEC Regulatory Disclaimer: Case Studies are selected based on how they illustrate common 401(k) plan goals. It is not known whether the clients approve or disapprove of Fisher Investments 401(k) Solutions or the services provided.

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Fisher Investments 401(k) Solutions is committed to bringing unparalleled support to small and mid-size businesses and their employees through 401(k) retirement plan services.

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5525 NW Fisher Creek Drive Camas, WA 98607

844-343-4015
info401k@fi.com

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