Show HN: Simplifying 401(k) Advice - Feedback?
1–10 of 49 posts
Re: Show HN: Simplifying 401(k) Advice - Feedback?
#2Hi all,
"Edit: I'm the co-founder of Kivalia." We've spent about 1 1/2 years developing the above-linked community-based 401(k) advisory service offering, which is now live. We'd welcome feedback from the community to help us refine the design/flow/usability of the service offering.
The specific problem we're solving is "How should I invest my 401(k) money, given the market environment and the options available to me specifically?"
My partner and I have deep domain expertise (quant finance & investment advisory experience - 25 years or so between us) and as such, run the risk of creating something intuitive to us, but too geeky for mass consumption.
I’ll be active in the comments section
Thanks! B
Re: Show HN: Simplifying 401(k) Advice - Feedback?
#3Hi all, "Edit: I'm the co-founder of Kivalia." We've spent about 1 1/2 years developing the above-linked community-based 401(k) advisory service offering, which is now live. We'd welcome feedback from the community to help us refine the design/flow/usability of the service offering. The specific problem we're solving is "How should I invest my 401(k) money, given the market environment and the options available to me…
Hey @bpm11,
How does this differ from the consumer's perspective from BrightScope?
Best, David
Re: Show HN: Simplifying 401(k) Advice - Feedback?
#4Who stays in one place enough to have "one" 401(k)? When I switch jobs I roll over. I have rollover, traditional, Roth and SEP IRAs at E-Trade Does your service work for me?
Re: Show HN: Simplifying 401(k) Advice - Feedback?
#5Hi all, "Edit: I'm the co-founder of Kivalia." We've spent about 1 1/2 years developing the above-linked community-based 401(k) advisory service offering, which is now live. We'd welcome feedback from the community to help us refine the design/flow/usability of the service offering. The specific problem we're solving is "How should I invest my 401(k) money, given the market environment and the options available to me…
As your competitor I wish you the best! More innovation in this space is needed.
Re: Show HN: Simplifying 401(k) Advice - Feedback?
#6Employer provided 401k plans are great when you receive matching contributions, but otherwise not a very good. They generally have extremely limited investment options. It will be hard to offer general advice applicable to all 401k participants since they will each have a small selection of investment vehicles.
The best advice is to make sure you contribute enough to receive the matching contribution, and then immediately roll the money out into an IRA as soon as you leave the employer. This will allow you access to a much wider range of investment vehicles.
Re: Show HN: Simplifying 401(k) Advice - Feedback?
#7I like the general idea -- many company's 401k options range from slightly sub-optimal to terrible, and helping people make the best of whatever choices they face can be very useful.
On the UI/UX side, the look and feel is very slick, but I'd like to see some deeper tutorial type explanations for things like beta and risk profiles rather than short "help" style definitions.
More fundamentally, it is hard to garner a real understanding of the sites' investment philosophy. That's something I'd really want to know before I send a friend or relative to this sort of website.
For example, although it is clear that the site favors active portfolio management, beyond just re-balancing, what is its take on active versus passively managed underlying funds? Is past performance being used as a predictor of future performance? What is the weight given to fees? What about internal leverage? And so on.
Re: Show HN: Simplifying 401(k) Advice - Feedback?
#8Employer provided 401k plans are great when you receive matching contributions, but otherwise not a very good. They generally have extremely limited investment options. It will be hard to offer general advice applicable to all 401k participants since they will each have a small selection of investment vehicles. The best advice is to make sure you contribute enough to receive the matching contribution, and then immedi…
More and more firms are starting to offer self directed brokerage accounts that you can use within your 401(k) plan.
Also in a 401(k) plan you get to purchase mutual funds at NAV which you cannot do through an IRA.
I don't believe there is a one size fits all ("best advice") solution to personal finances. Though I do agree with making sure you max the matching.
Re: Show HN: Simplifying 401(k) Advice - Feedback?
#9Who stays in one place enough to have "one" 401(k)? When I switch jobs I roll over. I have rollover, traditional, Roth and SEP IRAs at E-Trade Does your service work for me?
What stinks about switching jobs is most places don't do a 401k for your first 3-6 months.
Re: Show HN: Simplifying 401(k) Advice - Feedback?
#10Hi all, "Edit: I'm the co-founder of Kivalia." We've spent about 1 1/2 years developing the above-linked community-based 401(k) advisory service offering, which is now live. We'd welcome feedback from the community to help us refine the design/flow/usability of the service offering. The specific problem we're solving is "How should I invest my 401(k) money, given the market environment and the options available to me…
Hey @bpm11, How does this differ from the consumer's perspective from BrightScope? Best, David
Brightscope rates plans based on cost and other attributes, while we provide actionable advice for participants in any plan. The actionable advice is in the form of model portfolios which are updated each quarter (with notifications sent to all subscribers to a particular plan).