When you make the decision to use Financial Engines you can choose from two services: Online Advice or Professional Management. Online Advice can be your first stop after you get your Retirement Evaluation. It’s a good fit if you are a “do it yourself” kind of person who feels comfortable making decisions about how to invest.
Powered by the “engines” behind Financial Engines – and the experts we have on our team – Online Advice is an easy way to see how your 401(k) is doing.
You’ll see your account at-a-glance broken into three categories: your investments, your savings and your projected retirement income. With just a click, you can see our advice to help you navigate this information and potentially improve your efforts by changing your investments, increasing your saving rate and targeting how much you’ll actually have to live on when you retire.
In the “Current” view, you’ll quickly see how your money is invested and you can even add investments that are outside of your 401(k). Your mix of investments will be provided in a pie chart so you can see if you are weighted too much in one area. In the “Advice” view, you’ll see a recommended course of action and information about how to make changes to accept this advice. At any time, you can call our Advisor Representatives.
Based initially on your 401(k) contributions, the “Current” view of your savings breaks down how you are contributing. You can add outside savings accounts if you’d like to see your big picture (like a pension or IRA, etc.). On the “Advice” view, you’ll see recommendations about how much to save, how to take advantage of your company’s match and more. This may be the section where you can do the most right now to increase your savings.
In the “Current” view, you’ll see how much we estimate you could have in retirement based on your current information. It’s just that, an estimate, and there are a lot of things you could do to change that number. Obviously it could go down if you stop saving or up if you continue to save and invest well. There are three views on this page: portfolio, income and goal. Take a look at all of them. Then go to the “Advice” view and edit fields to make this the best estimate possible. You’ll see Edit Plan at the page bottom, that’s where you can start.
One last thing you’ll want to check is your profile information. There are several tabs in this section where you can personalize information and set your preferences. Make this yours. You can even add your Social Security estimate (use our Social Security planner here).
Jump in, get started!
We are here to help you get the most from your 401(k). We want you to retire well. If you have questions or just don’t know where to start, call an Advisor Representative at (888) 443-8577. We look forward to hearing from you.