How to DIY your 401K the Smart Way – Blooom Review

So you have a 401k!  Yay for you!  Now what do you do with it?  Read on for how to DIY your 401k with new online 401k advisors that work for you without charging an arm and a leg.  Plus a Blooom review and a free 401k analysis.

401k advisors - Bloom Review

This post may contain affiliate links. My full disclosure policy is sort of boring, but you can find it here.

So you have a 401k!  Yay you!

Good job for thinking about the future and putting away some of your hard-earned paychecks into a tax-deferred fund that you can rely on down the road.

For years I’ve been patting myself on the back for my foresight to start my retirement investing when I first got out of college.  I had an employee sponsored 401k plan, so it was a no-brainer at the time. I simply contributed the minimum amount I needed to get my company matched funds. Then I just put it on autopilot and forgot about it.

If you’re anything like me, you rarely think about your 401k account.  Sure, when I get my quarterly statements, I think…”Gee, I should really take a look at the funds I’m investing in, maybe look at my asset allocation, figure out how much I’m paying in fees each year…”  “How do I know if I’m getting the most bang for my buck?”

But I never took action….there were too many other distractions to take care of like kids, paying the mortgage, walking the dog, you name it.  Plus, I was always afraid I’d make a mistake and it would be the WRONG change that would leave me penniless when I needed the money for retirement.  

So my 401k has been just sitting there, in good times and in bad.  Pretty much untouched by me. So, while my company sponsored my 401k plan, there was NO ONE managing it!

DIY your 401k the Smart Way – Blooom Review

And then I heard about Blooom (Yep, that’s not a typo.  Blooom has three “o”s in the name.) Blooom is an online registered investment advisory firm that can help optimize your 401k plan.  As an SEC-registered investment advisory firm, Blooom acts a fiduciary, which means that they are required by law to act in your best interest.  

This Blooom review is for people just like you and me – people who aren’t wall-street savvy fat-cats with a staff looking out for their investments.  Blooom is for people who have tried to invest for the future, but don’t really know all the ins and outs of the stock market, and who still want to make good decisions for their 401k plans.  

Blooom is more than just a group of 401k advisors – Blooom’s system works with any of these employer-sponsored retirement plans:  401k, 401a, 403b, 457 or TSP. If your plan is one of these and you have online account access, Blooom can work for you.

What Blooom can do for you as 401k advisors

  1. Work to minimize your investment fees
  2. Balance the proportion of stocks and bonds based on your age and number of years until retirement.
  3. Diversify the funds for optimal risk and volatility
  4. Adjust your allocation as you get closer to retirement – automatically making the trades and adjusting future contributions
  5. Monitor your account for any suspicious withdrawals or activity.

My Blooom Review

I was feeling pretty good about my retirement account.  Like I said before, I’d pat myself on the back every time I’d get that statement in the mail.  

But when I realized that if I optimized my retirement account, I might have an even bigger nest egg, and get to retire earlier, I knew I had to give Blooom a try.  

Blooom offers a free 5 minute 401K analysis, so I had nothing to lose.  Here is a peek at my analysis.

Blooom Review

While I was shocked that my blooom flower wasn’t perky and healthy, I was not really surprised.  After all, I haven’t been managing my 401k. I’ve just been leaving it there to sit.  I’m actually surprised it’s done so well at all.

Here’s my account flower after I had Blooom make the suggested changes to my 401k account.

Online 401k advisors -

All about 401k Advisors

  • No minimum account size so you can start any time
  • Blooom works with the funds you have in your current 401k so you don’t have to move your account
  • No hidden fees
  • Only $10/month which is amazingly low if you look at investment advisors
  • No long term contracts -you can cancel at any time
  • Secure website and interface


My readers can signup here for a free 401k analysis.  It’s totally eye-opening!  Click that link above and let me know what you would do with a few extra years of early retirement!

Here’s to early retirement!


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