Fourward Thinking: Your 401(k) Game Plan
By Nick Hemsted
Mistakes in your 401(k) plan can cost you.
Late contributions, incorrect match formulas, or missed eligibility windows can trigger penalties. A third-party review can catch what you don’t see. Prevention is cheaper than correction.
Your 401(k) should have a committee—even if it's small.
Create a team that meets quarterly, reviews decisions, and documents actions. It formalizes oversight and reduces personal risk. Process is your shield.
Fiduciary risk doesn’t go away—it just gets managed.
You can reduce it with an Investment Policy Statement, fee reviews, and ongoing education. But you can’t ignore it. Treat it like any other business risk.
Is your plan audit-ready?
Could you show clear documentation of why you selected each fund, provider, or default? If not, it’s time to start. A paper trail is the best defense.
Planning doesn’t have to be about control.
It can be about freedom.
We work with people who want more intention - not more to-do lists.
Disclosures: This blog contains general information that may not be suitable for everyone. The information contained herein should not be construed as personalized investment advice. There is no guarantee that the views and opinions expressed in this blog will come to pass. Investing in the stock market involves gains and losses and may not be suitable for all investors. Information presented herein is subject to change without notice and should not be considered as a solicitation to buy or sell any security. Legacy Financial Group does not offer legal or tax advice. Please consult the appropriate professional regarding your individual circumstance. Past performance is no guarantee of future results.
Mutual funds are sold by prospectus. Please consider the investment objectives, risks, charges, and expenses carefully before investing in Mutual Funds. The prospectus, which contains this and other information about the investment company, can be obtained directly from the Fund Company or your financial professional. Be sure to read the prospectus carefully before deciding whether to invest.
