How to Do Financially in Crazy Times

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Retirement, Moneyadvice, Investing, Savingmoney, Personalfinance, Business

4.6 • 2.8K Ratings

🗓️ 13 November 2024

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

"My wife and I are in the messy middle. These times are crazy. What advice do you have to organize life and get through this season?"

We'll walk you through that question and more in today's Q&A episode!

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Transcript

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0:00.0	We have another question from K'd M.
0:10.0	It says, what are the benefits of rolling over a 401K?
0:14.8	I have retirement accounts from previous employers, a 401k, and a 403B.
0:19.6	What are the pros and cons to rolling over to the same institution
0:22.5	where my current 401k lives? Tell me the other accounts that Cade said he had? He has an old
0:29.7	401k and 403B. And now he has a new 401k at his current employer. So do you just leave him B? Do you roll them over?
0:38.5	But he also threw in another piece of thing.
0:40.5	He said that he's considering doing a IRA rollover at the same institution where now his current
0:46.2	401K is.
0:47.5	Did you hear that?
0:48.6	I did not hear that.
0:49.6	Wasn't that the last part of the question?
0:51.7	Well, he said, what are the pros and cons of rolling these things over to the same institution?
0:57.5	Yes.
0:58.1	We didn't say to an IRA.
0:59.2	I don't know where, I don't know.
1:00.1	Nothing about IRA specifically.
1:02.7	Which maybe is that, but it's not what I saw.
1:04.8	A lot of people are faced with the decision.
1:06.4	We change jobs.
1:07.6	We end up moving into a new, we end up moving into a new role, a new job.
1:14.4	And we have this old 401K left out behind there.
	...

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