Check 401k Balance

It can be a good idea to check 401k balance once in a while in order to make sure that your money is being invested wisely and so you can better plan for retirement. With that said, how do I check my 401k balance?

Well, performing a 401k check up can be a little different based on your company. Every company which provides a plan does so through a third party financial company, Fidelity, Charles Swab, etc.

The way you check 401k balance will determine on which one of these companies host your plan, but basically there are 3 different options.

1. Get it in the Mail

Some plans will send you a detailed statement of your account balance regularly. If your plan does this you are one of the lucky ones because you are constantly being updated every month or so and you do not have to go out and get the information yourself.

If your plan does not do this then you have to use one of the other two options.

2. Go Online

If the company that hosts your account is a big name company then they will probably have a website of their own which you can simply log onto and check your information. You need to have your log in information for this.

3. Contact the Company Directly

The third option is to contact the company directly and ask for an account statement. They should be able to send you some information on your accounts balance and how it has done. They may even be able to give you a better idea of what your account has been invested into, stocks, mutual funds, bonds, and so on.

If you don’t know what company hosts your 401k talk to the Human Resources department at the company you work for, (or worked for when you built your current 401k). They should be able to point you in the right direction and tell you who to contact.

Final Notes

When you check on your 401k some might want to consider how it has done relative to the overall market and what fees you are paying on your plan to give you a better idea of where you stand. 401ks are long term plans, so don’t be surprised if you see some short term volatility in it.

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