Terry Savage, WGN, Wintrust discussed on Wintrust Business Lunch with Steve Bertrand


The WGN newsroom. Ready to join the conversation live whenever a story changes on Chicago's very own seven twenty WGN. The hope done sensibly is it the incentives for investment any economic growth will bring in enough growth and therefore tax revenue. This is the wintrust business launching sponsored by wintrust Chicago's Bank, seven twenty WGN. Seven twenty WGN happy. I Wednesday of two thousand nineteen John Hansen in for Steve Bertrand till one o'clock for the wintrust business lunch. Thanks so much for joining us in a little bit. We're going to be talking about the value of peanut butter. And no, I'm not talking about that a wonderful treat on carrots or crackers or celery. It's a company that actually helps other companies make sure that they pay for millennials student debt, or at least help out with that. It's a really cool company. We're gonna talk to the CEO and just a little bit. And also trampolines for kids and adults. How trampoline company here in the west loop might be benefiting area companies a little bit more than you'd expect? But let's jump right in with Terry savage. You know, or you love, Terry savage. The nationally known expert on personal finance the markets and economic policy Terry happy new year to you and a happy new year to you. But a great time of year because they get to start over and not look back except to lessons and then only move forward. And I looked at your column would you can find. Terry, savage dot com. And during the news break Terry challenged myself to do a couple of things on the to do list just to show how quickly can be done. I went into my 4._0._1._K. I also have an IRA I had never once looked really past the balance, and I went ahead and entered it on the website MorningStar to look at that. And then I also went to choose to save dot org. Again, this is stuff that I was able to aspertain in about thirteen minutes. Walk us through those two sites that you have in that column. All right. Well, that's the thing. I I tried to write about where you can hide about four or five weeks ago. And then, of course, the market went absolutely crazy in a 4._0._1._K plan used option is you're in it for the long run. You can't just take it out. You can only sell out and go to wear a once you're inside the 4._0._1._K played. And you've got to leave it in there. You're still working. They're very few safe alternatives. But there are stable value funds, for example, as you're getting closer to retirement, you may not want all the aggressive growth options that are really in there to be offered to younger people. But most people don't even know they know, well, I'm in I'm in a fidelity this or a vanguard debt. So I suggested everybody go to MorningStar dot com, and you can look up each and every fund unless it's what's called a proprietary put together a growth fund or something like that. But if they're named fun. You can see what's inside fund and see how. Well, those funds did against benchmarks and make better choices both inside your 4._0._1._K and outside. I have a target. I have a targeted targeted retirement date thing. And you know, you kind of just like leave those on autopilot sometimes, but it was a little to look through it and to see my risk compared to other folks in the same categories to see, you know, the weighted average of the whole that's it's really fascinating to look through the end of the day, Terry. I guess this is all about just really ascertaining where you are taking an honest. Look, exactly. And and I just want to make a point about target date funds. They're terrific there. The default that safe harbor really most young workers. We'll let the professionals manage it. And I think that's a good idea. But when you within three or four or five years of retirement taking a big hit could really be costly because that's the net at for three years. From now that you'll get your roll out.

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