In the field of psychological science, procrastination is defined as, “the voluntary delay of some important task that we intend to do, despite knowing that we’ll suffer as a result.”
During the 2015 open enrollment, have you taken the time to review your 401(k)? If not, why not?
Are you procrastinating? If so, do your reasons have anything to do with feeling like you don’t have the time and/or knowledge?
Stop holding yourself back
Whenever a client tells me, “I’m really busy…” or “I haven’t had a chance to do X (usually an assignment I’ve given them),” I know what is holding them back, and it’s not associated with time in the way they think. For them, if they can’t start and finish a task all at once, then it’s not worth doing until they can. Unfortunately, they are operating with an all-or-nothing mindset.
Any chance “all-or-nothing” is the approach you’re taking with your 401(k) during this open enrollment season?
“Lack” of time is one symptom of procrastination.
And so are apathy and overwhelm. Apathy that stems from finding all this investment stuff boring and maybe difficult. Overwhelm that stems from not knowing what to do, when and how.
Any one of these factors alone can often be the cause of inaction. Combine any of them and you have the perfect recipe for inertia.
Could the by-products of apathy and overwhelm be why you aren’t proactively managing your 401(k)?
This coming Wednesday, November 11th at 8pm, I can help you with the issue of time and knowledge.
Join me for a FREE webinar – 401(k) Mutual Funds: How to Identify the Good, The Bad and The Ugly. Click here.
Selecting your 401(k) mutual funds isn’t the only decision you need to make to manage your retirement savings. But, it’s a major piece of the puzzle and within 60-minutes you’ll have what you need to do it well. I’ll walk you through the list of criteria for selecting the mutual funds to have in your 401(k) and will explain why each one is important – not just when selecting a mutual fund but also when putting together a portfolio of mutual funds.
And maybe I am being a bit ambitious, but I believe you’ll actually have fun in the process!
You can say goodbye to “lack” of time and knowledge being the reasons you procrastinate.
Instead, you can turn time (our time together) and knowledge (what you’ll learn) into the perfect antidote to unnecessary delays.
Your, “I’ll Do it Later,” will become, “I’ve Done It!”
Thereby mitigating one of the biggest risks to your financial future.
p.s. Join me on Wednesday, November 11th at 8pm ET if you’re ready to shift from operating on autopilot to operating deliberately and strategically. A combination that will take your 401(k) investing from mediocre or good to GREAT! Great is what leads to better results from your 401(k). Register here for the FREE webinar.
p.p.s. I had so much fun being Farnoosh Torabi’s special guest during this week’s #AskFarnoosh segment. We talked about negotiating salaries, FinTech resources and 401(k) investing! Check it out here: buff.ly/1NQm34n
The Financial Wheel
The exercise & eCourse that will help you get clearer on how the choices you are making (and need to make) affect your life - today and in the future.