Mike -- joins us right now undated discuss this morning -- you don't. -- good morning thank you for sure I should tell you you know managing tells them yeah the managing director of plans months or consultants and against Gibson background on this and and what has been the trend and what's it like for workers that are over fifty. Well we have a lot of retirement plans that we can so wrong around the United States and you know lately what our plans we usually we don't -- a large number of play well I think you know we saw that. In 20082009. Time for him. We have observed ever closely. But there -- the need to pay attention to investments there planned. And they really need to pay attention to do you know what the future holes. Mike kettle -- technical glitch if you don't mind hang in on 12 we're gonna fix it. Don't be right back with you can you do that for me please. Sure thank you so much and if you have any questions. For Mike -- about your 401K. Give us a call -- 2601878. Till 38668890. -- seven a couple lines open I know a lot of us know about it. -- -- -- of it but we don't know much about it and something that will have a huge impact on all of relies Tommy Tucker. Back in a flash on -- WL and ironically we're having a conversation about watching the computer screen and paying attention. It's not ATM Tommy Tucker Mike -- rejoins us now managing director of planned sponsor consultants. -- about your 401K. It is probably one of the more important things it will affect all of us. And now I think a lot of us know a whole lot about it so Mike did you had a story or at least there was a story in which they quoted you talking about. Five warning flag -- for with your 401K but before we get to that it seems like. You know we all ticket every quarter and we see how it's doing and that. I don't really know what I'm invested in a war or. What is the best way to go with this so when it comes a basic managing. Even get a handle on all that. Well let me let me begin by saying. -- budget studies -- there's -- there and I think the biggest thing has. The preparation of people and readiness for them to retire. -- This study in 2013. And they say that. Americans on track to replace. 61%. Of their house. And Boston College as a retirement research center and they published an actuary armor risk index. And they say -- only about half of today's doubtful. Our writer retired at age 65. Vanguard. Retirement. Senator. And nation. One there are -- terms contribute less than 4%. Zero or one K and so what -- now what we do research. And is that that most Americans need to say at least 10%. And what -- In order to have some type of successful retirement that that the minimum number they consider that number includes the hours match Emma. 401K plan which employer matches some of their contributions. And lastly what -- is based on -- behavioral finance research. By doctor Shlomo -- Nazis UCLA. And he has written a book -- saved more tomorrow. And what he has he says that book is based -- That most people the name professionally managed. One stop site. Managed investment. Such as target date investments or managed accounts. And most. Four point eight range usually have some type of target date investment that's based upon. One's -- managed accounts. You're -- provide a lot toward the -- Information about yourself. Substantially more data points -- just to hear your age. So Neill for us here we have a company and I mentioned at that manages a 401K in the company contributes X amount dollars salary. But didn't do we have a choice of going somewhere else idiot to stick with that company to get the match here is that from company to company. Well I usually stick with they come here where there's employers actually providing plants. And they're doing match. When you leave that company. You again it could roll that 401K. June next company or you can setup entire day. There few. Leave employment that particular companies. And an IRA differs from a 401K. In that. Well Kyra it shocked me setup on your on either roll out well -- one K plan. Well based on the current tax law. Whether or not you're actually permitted to set so one out because a you know after retirement. Plan or beef because year incumbent. Sorry that you are permitted to do so. But for more -- plans are great device to be able to. -- mind you know -- and you get an employer match. And you know what you contribute to a fall okay. It helps reduce the income -- and a it is. And it deplores matching it that like remind some people take advantage and -- memorable -- in order match should. Dynamite Kane managing director of plan sponsor consultants about 401 -- And IRAs and if he had any questions we'd love to take him at 2601878. Till 386688908. Selling some like when you say 10% I would presume that's. From when you start working and if you haven't done that and and year forty this year forty -- fifty ish. You -- -- -- -- 10% but you can only do so much in deferred taxes on a house all our. Well the you have. You rate securities. Seventy. If you are over fifty years old. Potential -- They use him in bill. You get up over 20000 dollars. There are ways you have to work well it -- -- For. We're advocates of financial well to address. An actual letters in our plans and want things that we sign it is is there. Well a lot of large record keepers -- -- education for our plan. In many cases they don't address the the actual problems or issues that people -- With regards to. Having consumer dad wore. Having that adequate cash flow greater expanses that. I think it is if you have most people they can say 10%. There might mean again it's one Easter the wrong way there are. And oh see we see the average -- money. The bird retired plan. Is some more five to 6%. In some cases a little bit lower mentioned earlier about paying our. I get a taxi comes in here and and you mentioned that in one group whatever was that we were gonna have. About 61% of our income and when people retires at a target or is that wait to -- that CNN. Well. Platinum. We work where. -- retirement cerner to. Due -- third angle story retirement readiness Wednesday. 4089. Adults. Between. Eight team has 65 in conjunction with our partners. And that would make him up the statistic. That Americans are wrong track replace 61%. Of their counsel on what I would say about that that alone now obviously. And what you hear from different. Expert that you need anywhere between 80%. And maybe even about -- percent. Theory problem replay. So you're not -- 10%. Currently you're you're really don't have an issue. So say is if you're older. Name Serbs say that 10%. Past time and maybe if you network all of the -- positions. But you don't need eighty you have to have something that page you. 80% every year that you retire you on time out of one time amount of 80% of your annual. Salary. In our we're talking about -- career -- Well. Another one comes in and says I got an IRA before working assesses text can I roll my IRA into my 401K. You cash. And one of the matter -- at least -- -- that there are there benefits but. What I would what I would first caution it is compared to appease the you're paying. What's your higher and C 401K plan. Generally -- game. Expanses of 0401 K plan collapsed while the other benefits that you have is the ability to see those bat. On a web site -- 401K plan in and year participants statements that you quarterly says may have one or. Is helpful most people. I'd say you got 250000. Dollars and a 401K which really is like an election that long depending on what age you retire or god forbid pass away. How do you know if the companies doing the right thing if you're in a gut your money in the right menu items that you can pick you manage all of that. Well most. 401K. Plan would hit record keepers. Any side usually. Try to -- some type education. Events each year were. For their part just. But if they. Most web site record keepers web site. Whoever's the vendor. -- if you want that web site. You were able to. Look at number different. Learning modules. They can be helpful to use the individual partners that understand. Investments. Understanding concepts that asset allocation. And that type thing but I think most people that we say they spend more time participants. I think spend more time in most cases. You know planning vacations these -- planning retire. Are trying to save Tony bucks on a TV. Yeah -- back what our record people who do as. You know B bacteria -- web site is being traded. Or this when there look at it and I would say that -- -- and I go back. The of behavioral finance. Expert. And slow -- that it. UCL IP. And today -- -- -- guy. And it talks about practical behavioral finance solutions to improve more days. He's a big advocates say -- Put your money and do you want to stop. Managed professionally managed solution which is a target date. Investment. Or managed to -- as -- available here order and it here blurred out and have managed now. With a 401K plan to ask them about that. He's human agencies and cities and more prominent since July 2000 well. One of the Department of Labor mandated. Fee disclosure. And so what I would say if I'm a part has been planned out and Meyer might be reasonable. And conducted. So uptight. About -- -- conducted some type of comparative. Benchmark being. You know using. Well regard benchmarking sources. That are out there is -- -- benchmark. -- out or more again. And has some pop tremendous data. As well. There's another outfit short list. That our plan schools. And they have blog marriage. What regards to benchmarking fees. Record keeping and advisors met. Mike I appreciate your time we have to move on to news -- we get to talk to you again thank you.