401ks, Retirement, and how Twitter Can Help

Twitter is absolutely exploding. Can it help you with your retirement, investing, or 401k? We have been monitoring the conversations taking place in the Twittersphere, and have been trying to find the answer to this question.

There is no doubt that Twitter has a ton of collaboration and conversations between it's members. eRollover has actually joined the site and has been participating in some of the conversations. There are many individuals looking for advice, or more importantly, a shoulder to cry on when opening recent 401k statements. Here are some examples of the types of tweets regarding retirement.

Actual Tweets about 401k Conversations

AvianMorales (Avian Morales) Do you really think 401k's are helpful? Truthfully they can if you have studied financial literacy, but if not www.calicocat.com/401k.htm

XoomaRockSolid (aDenise Walker) This will definitely make up for lost 401k's last year- sp much more!

MikeFord71 (Mike Ford) @4TheMorningShow What's the biggest money mistake you've ever made? Apparently the stock market...my 401K is more like a 40.1K.

KRay11 (Kristen ) @4TheMorningShow I had no clue when I quit my job of 5 yrs my 401K would auto cash out if I didn't roll it over. I lost SO MUCH $ in taxes!

aloonie (Alan Langston) Bob says that if he was 59 1/2 He would take all of the money out of his 401K and his money problems would Be solved,

lunaface (Sandi) got my 401k statement yesterday...at least it's moving in the right direction this quarter

MrCliffy (Scott Clifthorne) defined CONTRIBUTION plans is foul corporate hustle. we assume the risk w/ 401k's - fund managers charge criminal fees...so they win...

401kplandesign (J.D. Carlson) I see hundreds of Employers each year. I ask them..."how much do you pay for your 401k?" The reality....9 out of 10....Have NO IDEA!

Twitter is a Quick Way to Have a Retirement Conversation

As you can see, the conversations tend to be more rants and raves at this time. However, we can definitely see many opportunities for assisting people with their retirement questions. Take KRay11 for example. She cashed out her 401k plan and didn't realize that she would be hit with a tax bill on her distribution. We envision that Twitter will help investors to find out answers such as these before making a terrible decision. If KRay11 had asked the Twittersphere about cashing out her 401k, she could have been steered in the right direction by a panel of her peers.

Twitter can be a Great 401k and Retirement Benefit....but be careful

eRollover sees a great benefit for investors and prospective retiree's with Twitter. It is an extremely valuable resource to quickly start to receive people's advice and experiences, and learn from their mistakes. Where else can you instantly connect and have conversations with millions of your peers? However, in an unmoderated Q&A like Twitter, one always has to take everything with a grain of salt before making any type of retirement or 401k decision. Stay Tuned.......

And be sure to follow us @ www.twitter.com/erollover !