Legal Disclosure: Tony Robbins is the Chief of Investor Psychology at Creative Planning, Inc., an SEC Registered Investment Advisor (RIA) with wealth managers serving all 50 states. Mr. Robbins receives compensation for serving in this capacity based on increased business derived by Creative Planning from his services. Accordingly, Mr. Robbins has a financial incentive to refer investors to Creative Planning.
Let’s say you are fortunate enough to go to see a ballgame at Fenway Park on a sunny spring afternoon. Sometime in the middle of the third inning that beautiful sunshine has made you thirsty, so you head to the concession deck for a refreshing beverage. When you get there you notice that only Coca-Cola products are available. In fact, the concession stand is called Coca-Cola Corner.
This sponsorship is one of the longest in sports history, dating back to the park’s opening in 1912, according to team officials. Coca-Cola renewed their contract with Fenway Park in 2008 for an undisclosed amount – but you can bet it was a pretty penny.
The target-date fund available in your 401(k) is a little like Coke’s availability at Fenway Park – it came at a price. Now you may like Coke (target-date fund), and may not mind paying more for the convenience. But maybe a different brand or product would suit you and your financial situation a bit better.
Learn more about your target-date funds and make informed decisions so that when your retirement day comes, it’ll be a walk in the park.
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