Are we focused too much on being liked? From the workplace to our personal lives, most of us don’t want to be the person who rocks the boat. Go with the flow, right? Leadership expert (and Antarctic research station leader) Rachael Robertson says that approach to leadership (or even following) couldn’t be more wrong. An honest – yes that means having tough conversations! – workplace is more constructive than an office focused on making sure everyone is getting along every day.
Plus, remember the 401k article going around suggesting a 401k plan doesn’t make much sense anymore for savers? Yeah… hope you didn’t immediately pull out your entire retirement fund after reading that because we’re covering that topic today and may have a different opinion.
During the Haven Life Line, how can Shawn figure out the right allocation for his portfolio? Should he go 90% stock, even 100%? When it’s time to retire, how does Shawn pull out his cash? He’s in his early 50s and thinks he has enough Benjamins to retire soon.
As always, we’ll also make sure and save some time for Doug’s trivia.
Today’s Headlines:
Why having a 401k is NOT outdated – (like you’ve read in this article being shared around.)
While the tax environment has changed since the creation of the 401k, human psychology has not. While it’s true there may be equal (or even better) choices than 401k’s on paper, there is no better financial tool that gets people saving and investing their cash. When the choice is between a 401k and not investing at all, I’ll take the 401k every time.
The battle isn’t over yet, but the number of people who took cash out of their 401k’s through the CARES act is lower than expected.
Good news from a recent Vanguard study – the number of people that chose to withdraw from their 401k plan is initially a LOT lower than many people expected. The bad news? The storm hasn’t passed yet, and the number of withdrawals will only be going up.
Rachael Robertson
A big thanks to Rachael Robertson for talking with us today! You can find more from Rachael at her site: RachaelRobertson.com.au
Want more from Rachael? You can order her book (and help the show!) by using our link: Respect Trumps Harmony: Why being liked is overrated and constructive conflict gets results
Doug’s Trivia
- On this date in history in 1969 the Apollo 11 landed on the moon. How much did that voyage cost? Let’s make it multiple choice, did the voyage cost
- $8.4B
- $12.8B
- $18.4B
- $25.4B
Haven Life Line
- Shawn’s voicemail – 25 ways to better your 401k. Method of going high equities. 90/10, or 100? Shawn is in early 50s. How does he figure out allocation. How do you pull out the money when its time to retire?
Want the guys to answer your question? You can call into the Haven Life Line and get your question answered on-air HERE.
Join Us Wednesday!
Why aren’t money topics more entertaining? On Wednesday we’ll welcome the Singleton Foundation team behind the new Million Stories video series, CEO Shelly Miles and Executive Producer Lisa Freeberg.
Written by: Richie Rutter-Reese
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