Retirement Planning Education, with Andy Panko #169 - "Hot topics" edition...Andy and Justin Pritchard talk about target date funds, illiquid assets in 401(k) plans, firing an advisor and MORE!
Sep 11, 2025
Justin Pritchard, a financial planner from Approach Financial, joins Andy to explore hot topics in retirement planning. They dive into the pros and cons of target date funds and discuss a recent executive order allowing illiquid assets in 401(k) plans. The conversation also touches on strategies for making up for insufficient retirement savings and elements to consider when firing an advisor. Additionally, they discuss the importance of understanding an advisor's succession plan and examine the implications of holding cash in currencies outside the US.
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Four Practical Ways To Fix A Shortfall
- If you're behind, evaluate realistic fixes: save more, earn more, spend less, or delay retirement.
- Working additional years often raises success odds more than gambling on higher returns.
Succession Plans Offer No Certainty
- Advisor succession plans lack guarantees and often leave clients handed to unfamiliar staff.
- Knowing an advisor's succession approach helps set expectations but won't ensure a perfect transition.
Ask About Succession And Backup Coverage
- Ask your advisor directly what their succession plan is and who would take over your account.
- Prefer firms with teams or institutional backup if continuity matters to you.