Aug 23, 2019
Do you have any old 401(k) accounts from an old employer that you haven’t touched since you left? You should strongly consider rolling it over into an IRA because of the flexibility and control it will offer you. We’ll explain everything about that transition and its benefits. Plus, we’ll explain why simplicity is so important when it comes to investing.
Check out the full show notes for this episode by clicking here:
Today's rundown:
0:45 – Why we’re talking about 401(k) rollovers and simplicity.
2:08 – What are the main benefits of taking that old 401(k) and rolling it over into an IRA.
2:58 – Flexibility gives you more investment choices inside an IRA.
3:20 – Rolling it over gives you the option to work with an advisor if you choose to.
4:06 – There might be hidden fees inside your 401(k).
4:36 – Are there any tax implications to rolling over your 401(k)?
6:30 – You don’t have to leave your company to have the option to roll it over.
7:43 – How to determine what type of investments we want to make in an IRA.
9:12 – Whatever decision you make, it’s still important that you have a plan.
11:15 – Why do advisors make it more difficult for clients than it needs to be?
13:02 – What steps can you take in order to simplify your retirement?
13:21 – Step 1: Can you consolidate your accounts?
15:11 – Step 2: Understand what you’re invested in.
17:10 – Step 3: Classify your investments into these four categories.
