While American employees appreciate having a 401(k) plan, the majority will likely spend more time planning for a new car purchase or vacation than researching their plans investment options.
This retirement disconnect is not surprising, according to Schwab Retirement Plan Services, which released a survey this week of more than 1,000 401(k) plan participants. We often see that participants are hesitant to take action when theyre not completely comfortable with the matter at hand, and this is especially true when it comes to financial decisions, says Steve Anderson, head of retirement plan services at Charles Schwab.
