You spend years and years saving money for when you retire, but are really in control of how your retirement plan is doing? Here’s a tool that will help you keep an eye on your savings.
You know how much money you are putting in your retirement fund and, if you are enjoying of a 401(k) employer matching contribution program, you also know how much your employer is putting in, but as you keep doing this for many years, it is always a good idea to check regularly how the fund is doing.
The reason why it is important to make a habit out of checking your retirement account is because sometimes there might be hidden fees affecting your investments, or there might be an opportunity that you are missing. Fortunately, there is a way for you to take control: Blooom.
This platform Works with 401(k), IRAs and more and it’s a quick way to see how your savings are doing. You will need to answer a few questions about your investment habits, create a user and log in with the existing savings account.
You will see where you are investing at the moment and what other opportunities to take into account are. They will do some research on diversification, identifying which funds are available to you and give you a quick feedback with all this information, presented in different ways.
So if you are into numbers, you can get a graphic chart showing exactly how your portfolio is doing. If not, you can visualize in a very simple yet effective way: a flower with different stages of health depending on your portfolio general performance.