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BJL Retirement Plans

Matt on Retirement Plans

The Retirement plan at work is the most overlooked benefit provided by a company. Think about it. Do you or your employer know the cost of your health insurance? Do you know the cost of your personal insurance or property insurance of your business? Most likely you do because it is an out of pocket cost. But most people do not have any idea what the internal costs are of their retirement plan or personal portfolio. As investors become more informed, they may be shocked by the high costs that are common place in the financial industry.

At BJL Wealth Management, we specialize in providing the right retirement solutions for our clients. We know how high costs can prevent opportunities for the plans to grow and lead to less money saved for retirement. Don't we all want the best investment options possible when contributing to our plans. It sounds simple but most do not realize what they are paying. We will make sure you do.

Do you know what your retirement plan is costing you?

  • cost of retention and attraction
  • cost of money that could be saved
  • cost of missing years of retirement from lack of performance...missed opportunities
  • costing you time from lack of service...dealing with employees
  • cost of losing employee moral

KEEP PEOPLE PROUD…OR KISS THEM GOODBYE:

Not too long ago, I read an article that talked about the most common reasons people leave their jobs. I was surprised to find that “more money” wasn’t in the top 3. The most common reason was a disconnection with management. The next was a feeling that they were not an integral part of the team. The third was a better benefits plan.

For 10 years now, I have paid close attention to the way most 401K Plans have been run. I realized there was a huge GAP in service in far more cases than not. So I began to explore more deeply.

In essence, there was little to no effort being put into the management of most 401k plans. 

The second and maybe most important phase of a retirement plan is service. And when we say service we should probably substitute it for education. Think about the average employee at a company. Do they really understand the tax benefits they are receiving by contributing to a retirement plan at work? Do they understand the funds they are invested in inside their portfolio?

There is a major lack of service within the retirement planning industry. The lack of education leads to negative feelings towards retirement plans in general.  The misunderstanding of how money can compound over time is lost among the average population.  The benefit of free money provided on top of their contribution (known as an employer match) is never realized.  These are just a few of the important details that are not being taught within existing plans today. This should not happen.

    This just shouldn't happen. Our entire model at BJL is driven around the following:

    • OUR STANDARDS ARE BASED ON WHAT THE CLIENTS THAT LEFT OTHERS TO COME TO US FEEL THEY DESERVE AND SHOULD DEMAND.
    • IT'S OUR RESPONSIBILITY TO GIVE OUR TIME AND COMMITMENT TO BOTH TEAM MEMBERS AND OWNER GROUPS.
    • WE SERVE PEOPLE AND FAMILIES, THROUGH A STRONG COMMITMENT TO SERVICE OF OUR CLIENT COMPANIES.

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