Bryan Ziegenfuse on Leadership Traits and Roth 401(k) Investments

Poor Leadership Traits Leaders Need to Avoid

Being a leader may seem like the most demanding job because every other person looks out to them to provide a sense of direction. In order to lead the people well, a leader is supposed to have good leadership traits. Some of them could be inborn, while an individual can learn others from other leaders. Anybody intending to get into a leadership position should be aware of the traits that they need to have. Through this approach, one will be able to avoid bad leadership traits. Here are a few leadership traits that one needs to avoid.

Failure to Recognize Your Employee Leaders should recognize employees for the work they are doing. Constant recognition ensures that the employees are motivated to work much hard. Leaders are expected to provide that they realize their employees regularly, whether monthly, bi-annually, or quarterly. Every leader should avoid the habit of not recognizing their employees.

Poor Communication

Every leader should stay away from poor communication. Leaders need to communicate effectively with their subordinates. Proper communication ensures that a leader can pass information to the followers effectively. Additionally, good communication helps the leaders to obtain feedback from the followers to understand their needs.

Self-centered Another trait that should avoid is being self-centered, as it is one of the traits that point out that someone is not a good leader. Every leader is supposed to put the needs of their subordinates before theirs. A self-centered leader is a poor leader who can’t lead other people well. In this case, a leader associates every success to themselves. Such leaders don't want to be accountable for any problem that may occur. In most cases, they blame other people for their problems.

Disrespecting the Employees Leaders should avoid disrespecting their employees as that may lead to hostile workplace relationships. In the same way, leaders expect respect from their employees, and they should also give it back. When there is respect between the leader and the employees, it will be easy to work.

Getting into leadership may be easy for many people. However, executing the roles as a leader is what may be a challenge for many. However, having the proper traits is vital to have a successful leadership tenure. Any person intending to become a leader should avoid the poor traits mentioned. In this case, their leadership will be productive and memorable.

When is the Right Time to Invest in a Roth 401(k)?

Deciding on the right retirement account can be difficult because there are so many excellent options available. However, many retirement advisors believe that a Roth 401(k) is the best choice. This retirement plan allows employees to invest tax-free money up to specific limits.

According to MarketWatch, a website that provides business news, stock market data, and financial information, an employee can contribute up to $19,500 in 2021. By the end of the year, employees who are 50 years old or older can contribute up to $26,000.

A Roth 401(k) is different from a traditional 401(k) because it has no tax consequences now or in the future. If that were not enough, people can withdraw their contributions at any time without penalty.

While there are many reasons financial experts recommend a Roth 401 (k), the following three benefits are cited often: -

It is a tax-free retirement savings account used for qualified withdrawals.

It is an excellent choice for people who want to transfer from pre-tax accounts because they can save more money for their future.

Deciding When to Invest in a Roth 401(k) One frequently asked question is, “When is the most appropriate time to invest in a Roth 401(k)?”

There is no simple answer other than to say that it depends upon an individual’s personal situation. As most people know, the sooner they start investing, the more money they can potentially grow over time. In other words, the earlier they start, the better their investments will be.

Investing too early because of concern about what will happen if the market crashes are not an accurate way of planning for retirement. In fact, it’s more of an excuse to procrastinate. Since the economy and market volatility are always impossible to predict, it’s not possible to accurately time the market.

In conclusion, if an employer has not made the Roth 401(k) available, employees might use other types of retirement savings accounts like Traditional 401(k)s, SIMPLE IRAs, SEP IRAs, and solo 401ks instead. While there is nothing wrong with these alternative retirement options, many financial experts, after weighing the pros and cons of each retirement account option available, believe that a Roth 401(k) is the best choice.