How to Invest in your 401k Easily – with Chris Costello from blooom

When I got my first 401k at work, it quickly realized that I had no idea what I was doing. There were more than a dozen fund options to choose from and I didn’t know what it was going to cost me to participate because there were so many hidden fees.

It made me want to give up right away … and I did. I thought, “This is too difficult and I can’t afford to invest for my retirement anyway.”

Years past and I missed out on some major growth for my retirement. It looks like my situation isn’t so different than most Americans given nearly half of them have less than $10,000 stashed away for retirement.

To help us solve this retirement conundrum, I invited the founder of blooom, Chris Costello, to tell us more about how their popular service is helping Americans save more money, time and heartache with the 401k process.

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I’ve maxed out my 401k. Where else can I invest?

Our second question of the month comes from Angela from California:

Hi Andy,

I’m enjoying your podcast and wanted to ask you a question as I’m starting to get into more aggressively saving for my retirement.

I’m 32 years old. I recently modified my contributions to my workplace 401k so I’ll be maxing it out at $18,500 this year. I recently paid off my last student loan and had extra money. My husband is matching his 401k too after a little convincing. So we’re really getting serious about our retirement savings now. Both our companies match so that’s another perk.

I do feel like I’m behind overall though. Where else should we consider investing outside of our 401k?

Any feedback you have would be great.

Angela

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