#110 1/2 - ONE MORE pro of rolling over employer plans (like a 401(k)) to an IRA

Retirement Planning Education, with Andy Panko

Andy Panko

Annuities, Taxes, Ira, Retirement Planning, Social Security, Roth Ira, 401k, Pension, Investing, Financial Planning, Roth Conversion, Tax Planning, Education

2.4 • 671 Ratings

🗓️ 5 August 2024

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

I'm a buffoon and I missed including another important pro of doing an employer plan-to-IRA rollover in episode #110's list of pros and cons of rollovers. The additional potential pro is the ability to do Qualified Charitable Distributions ("QCDs") out of the IRA if you're at least 70 1/2 and charitably inclined. So, the recap the full list of pros (including QCDs) and cons of doing an employer plan-to-IRA rollover: Potential PROS of rolling over an employer plan to an IRA or Roth IRA: More...

Transcript

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0:00.0	I want to share one more pro of doing an employer plan to IRA rollover in this, the 110th and a half episode of the retirement planning education podcast.
0:12.5	Welcome to the retirement planning education podcast, where you can learn all about IRAs and Roth IRAs, employer retirement plans, taxes, social security, Medicare,
0:22.7	portfolio withdrawal strategies, annuities, estate planning, and much more. And now here's your host,
0:28.9	Andy Panko. Oh, man, I'm such a buffoon. So last week's episode was the 110th episode where I did
0:37.1	the pros and cons of a rollover
0:39.8	from an employer plan like a 401k-4-3B Federal Thrift Savings Plan to an IRA.
0:46.4	And I thought I was slick.
0:47.4	I put a lot of time and effort into writing or coming up with a list that I thought was
0:51.7	as comprehensive as possible.
0:53.7	And I was certain that I nailed it and covered everything that I felt was worth covering.
0:58.5	So did the podcast, released a newsletter all coincidentally on the same day.
1:02.4	And then a few people in the Facebook group were kind enough to tell me there's another pro of doing a rollover that I missed. And I felt like such an idiot
1:13.4	because, like, yes, I fully agree that's one that should have been covered and I knew it. And I just,
1:18.3	I don't know, I have no excuse for why I didn't include it in the first one. It just completely
1:23.1	slipped my mind. So I will share with you what that is. And I noticed this is the 110th and a half episode
1:28.5	guaranteed this will be the shortest episode I ever do other than maybe the one where last year,
1:32.8	as I told you I was going on hiatus with this show. But all I'm going to do is I felt the need to
1:37.9	have to address this now. I couldn't wait until next week's episode, the 111th episode,
1:42.1	which is a whole different topic. It was burning
1:44.1	at me for the last day since these two people on Facebook pointed this out, which I'm glad they
1:48.6	did again, but I just couldn't let it go. It was eating at me. I was losing sleep last night. I was
1:52.1	cold sweats. It was bad. So I have to have to get this off my chest now and share it with you
	...

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