Switching Jobs? You Might Be Sitting on a Goldmine - Episode 642
Investing in Real Estate with Clayton Morris | Investing for Beginners
Clayton Morris
4.1 • 1.1K Ratings
🗓️ 22 June 2020
⏱️ 11 minutes
🧾️ Download transcript
Summary
Switching from a 401k or traditional IRA to a self-directed IRA can mean the difference between retiring comfortably to just getting by. On this episode of Investing in Real Estate, you're going to learn why switching jobs could be an opportunity to maximize your retirement savings.
If you're switching jobs in the near future, it's the perfect opportunity to switch your traditional retirement plan to a self-directed IRA. Instead of letting that old account sit there, you can convert it to a self-directed account that will allow you to exponentially grow your wealth. You're going to learn four major advantages of switching to a self-directed retirement account.
Transcript
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| 0:00.0 | Are you're |
| 0:05.0 | switching jobs or are you about to switch your job? |
| 0:09.0 | You might be sitting on a gold mine that you don't even know about. |
| 0:12.0 | That's today's show. Let's dive into it. |
| 0:15.2 | Hey everyone, I'm Clayton Morris, longtime real estate investor and entrepreneur. I've started multiple |
| 0:19.5 | seven-figure businesses. I invest in real estate buy and hold real real estate. I buy it and I hold it for the rest of my life and I live off the cash flow from those performing assets. This channel is devoted to helping you build financial intelligence so you can build financial freedom. |
| 0:35.6 | We've got hundreds of videos here that you can take action on. |
| 0:38.0 | So go ahead and hit that subscribe button and that little bell dingus down there so you'll be notified when we publish a new video. |
| 0:44.4 | All right let's get into it. This is one of my favorite topics, the power of a self-directed |
| 0:50.0 | retirement account. So if you're sitting there and you just left your job or you're thinking about leaving your job and you |
| 0:56.6 | had some 401k or other retirement plan with your company, you might be sitting on a gold |
| 1:01.7 | mine because now you can unlock the power of all of that |
| 1:04.9 | money that was sitting there tied up in the stock market and put it to use for you in the form |
| 1:10.3 | of investing in businesses or real estate, my absolute favorite. |
| 1:15.0 | So what you have is a 401k that you've maybe carried over, it's just sitting there |
| 1:19.0 | or you had some traditional retirement account with your company. |
| 1:22.0 | And you left, you're starting in a new company, so you're starting up with your company. |
| 1:22.5 | And you left. |
| 1:23.2 | You're starting in a new company. |
| 1:24.3 | So you're starting up another retirement account. |
| 1:26.8 | But what about the old one? |
| 1:28.1 | You just let it sit there? |
... |
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