Nevin's Data "Points"

My wife and I are in the process of moving to a new home—and it occurs to me that the process of changing homes is a lot like changing recordkeepers. Here’s how. Know What You’re Looking For We’ve made about a half dozen moves during our 37-year marriage—all driven by work, anchored by commuting concerns, and—in all but the first and last—school considerations. However, this particular move (my wife swears it’s the last one) literally started with a blank sheet of paper and a “so where would you like to live” conversation. Several conversations, actually. For this move, our high-level priorities involved climate (we’re not fans of snow, hurricanes, wildfires, or earthquakes), ready access to good healthcare (we’re not getting any younger), and proximity to cultural activities/things to do (we’re not THAT old). Indeed, with no particular ties to our current residence, and no external anchoring factors like grandchildren to consider (those with four legs don’t really “co...

There are few things more disruptive to the peace or clarity of a 401(k) plan than a switch in recordkeepers. Let’s face it—change—even change for the better—is frequently disruptive to the human psyche. Most of us tend to drift into comfortable “ruts” of pattern, or perhaps habit—places where we know what to expect and, roughly anyway, when to expect it. And, at least in my experience, the more frazzled your existence, the more one pines for these oases of quiet and relative clarity. That’s true, of course, even when the change is instigated by a regular, thoughtful, focused evaluation of the alternatives; and certainly when that change is the product of a desperate quest driven by a truly awful service relationship. But it is perhaps particularly disruptive when the change is thrust on the plan by forces outside of its control or instigation—and for the thousands of plans that have recently or are in the process of a change in recordkeepers due to industry consolidat...