The Case Against Rolling Your Workplace Plan to an IRA

The Stacking Benjamins Show

Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP

Education, Business, Money, Investing, Financial Planning, Cfp, Personal Finance, Retirement

4.4 • 2K Ratings

🗓️ 19 March 2019

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

We're answering your letters today, but first, we'll tackle a headline about the case against rolling over your 401(k) plan to an IRA. Most of us have heard why you should roll it over. Let's now hear the flip side. With points such as the lack of a stable value fund, the fact that many IRA advisors are just salespeople, and 401(k) plans in general beat IRA performance, the author makes many points which, on the surface, sound like an open-and-shut case. But is that really ALL of the argument? We'll discuss it today!

Plus, also in our headlines segment, one special interest group who loves fiduciary rules is arguing against one state that's trying to put them into place. Do they have a good argument? What does that mean for advisors helping you with your planning in general? We'll also tackle that big topic.

But then, we'll spend most of the show on your letters, which today include a TON of Roth IRA questions, among others. How should you set up your Roth? What about the 5 year rule? How should you invest your money inside of your Roth? We'll answer those, plus throw out the Haven Life Line, fire up Doug's trivia question, and more.

Today's episode is a great way to celebrate the first day of spring!

Thanks to the Murder Book Podcast for supporting StackingBenjamins. Check out Michael Connelly's new Murder Book podcast wherever you get your podcasts, or at MurderBookPodcast.com.

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Transcript

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0:00.0	Hey there, Stackers. We are trying to meet some more of you. We're going to be here in our hometown of Detroit.
0:09.1	Watching March Madness together. O.G. is going to be here. I'll be here. Richie, our producer.
0:14.8	Of course, my mom's neighbor, Doug, wouldn't miss it because we're buying appetizers and drinks for everyone. We will be in West Bloomfield,
0:25.0	Michigan. We tried to pick a spot that's very close to highway access. And if you come north on M5
0:32.1	from the 696-275-96 interchange, and for those of you outside of Detroit, you've no idea what I'm
0:39.9	talking about. But if you're in Detroit, you know exactly where I am. Just head north on M5. That
0:44.2	dumps you off near Maple. And the address, we're going to be at, we'll be at Jameson's
0:50.4	International Tavern from 2 o'clock to 7 this Friday. We're going to watch a couple games. We're going to give away some fun stuff. We got some books. We got some swag. It's going to be a good time. Two to seven this Friday, March 22nd. Please shoot me an email if you can come or let me know in the Facebook group. However, I'm just trying to make sure we have enough tables. Looks like we've got eight people coming early and a few people coming late. So just let me know roughly when you're going to be there. By the way, if you can't do that, but you can still make it, just come out. Don't feel like if you did an RSVP that you can't crash our party. Come crash it. That's this Friday, March 22nd, Jameson's
1:28.6	International Tavern, 61-39 Haggerty Road in West Bloomfield. Hope to see all of you, Detroit
1:35.3	peeps there.
1:39.5	Hi, I'm Kathy Jones. When I'm not listening to Money in the Morning Podcast, I'm Stacking Benjamin's.
1:50.8	Live from Joe's Mom's Basement, it's the Stacking Benjamin Show.
1:55.4	Hi. I'm Joe's mom's neighbor, Doug, and it's time to get out the trampoline.
2:08.3	Why? Because it's springtime. I'll share with you later my big surprise to help Joe's mom celebrate.
2:15.5	But first, today, the guys are celebrating by
2:18.9	answering your letters.
2:21.0	Plus, in our headline segment, ever wonder why you should not roll over your old 401k to
2:27.0	an IRA?
2:28.2	We'll review one headline that shares some reasons, plus we'll throw out the Haven Lifeline
2:33.1	and save time for some of my regionally famous trivia.
2:37.3	Sure, as long as your region is southern Wisconsin.
2:41.5	Anyway, now, two guys who mom says aren't spring chickens anymore, if you know what I mean.
	...

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