Just off the Gulf Coast, sharks can sometimes swim surprisingly close to shore without beachgoers ever noticing. Josh Null believes something similar happens in the financial industry, especially when people approach retirement with a sizable 401(k).
A rollover can provide greater control, additional investment choices, and access to comprehensive financial planning. However, moving money from an employer-sponsored plan into an IRA is not automatically the right decision. Investors may unknowingly give up certain plan benefits, accept higher fees, or purchase complicated products that do not match their needs.
In this episode of Coasting in Retirement, Josh and Michelle Lee Melton-Null introduce several colorful species of “401(k) rollover sharks.” They discuss premature rollovers that may affect early-withdrawal options, annuity recommendations that restrict access to savings, hidden differences in investment expenses, costly precious-metals promotions, and social-media personalities who portray traditional retirement accounts as scams.
How can you tell whether a rollover recommendation is truly intended to improve your retirement plan, and what should you understand before moving your money?
Listen to the full episode for Josh and Michelle’s guide to recognizing common rollover sales tactics, asking better questions, and protecting the retirement savings you worked so hard to accumulate.
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