Your corporate retirement plan is a key part of reaching your retirement goals. When it comes to Cerner’s 401k there are great internal resources from HR, but sometimes an outside perspective can help you answer some questions about the 401k investments at one of Kansas City’s largest employers.
As humans we are built to recognize patterns. If we roll two dice and they come up with snake eyes three times in a row our natural inclination is to think that on the fourth time they’ll come up again. The odds remain the same to roll two ones on the dice but our minds are drawn to the trend. Overtime these trends start to form biases in our thinking.
“An ounce of prevention is worth a pound of cure.” – Benjamin Franklin
The Wall Street Journal ran a story that discussed how financial institutions are marketing loans directly to parents to help their kids cope with the rising costs of college.
Parents are all too familiar with the rising cost of education. College costs have been surging for decades and the trend has filtered down to the private high school ranks. We have been tracking the costs of Kansas City area private high schools for several years. The average cost to send one child to a private high school in the Kansas City area is increasing on average 4.5% from 2015.
In our 30’s and 40’s we typically have a lot of financial commitments. Mortgage, maybe student loans, trying to save for your child’s college, save for your retirement and the list goes on and on. We all know we should be contributing more to our retirement accounts but all of the expenses above plus a dozen other items are preventing us from contributing more.
The year started off full of surprises. Stocks plunged out of the gates selling off 10.5% only to stage a frantic comeback. The market rallied 12.5% off the mid-February lows to post a positive return in the quarter. Stocks traded lock step with oil during the quarter.
The first quarter sent investors around the world on a wild ride. Stocks started the year off with a dramatic sell off. In the first six weeks global markets fell 12% before staging a furious rally to post only slight losses. Early in the year investors were concerned that energy prices were in free fall, China’s economy was stumbling and the Federal Reserve raised rates prematurely.
We live in a world filled with numbers. It can be tough to figure out the ones that are important and the ones we can forget! Here are TEN numbers you should know about your personal finances.