This 401k mistake could ruin your retirement.

No, seriously.

Brian, I am so excited to talk about this because we know that in life there are errors of

Co-mission and there are errors of omission and this is a big one that I am

nervous a lot of people are falling into and they don't realize just how devastating it can be to their long-term financial wealth building

Yeah, I sent this out to the team. We'll get to it. We'll set the context up first, but I'll just kind of give a little

preview. Vanguard posted on their social media account a stat that I was like, when I saw it, I was like, are you serious? I was like when I saw it I was like are you serious? I was like good for them that they're actually willing to disclose this information

But we need to kind of cover this so people don't fall into this trap so both give, give them the background, then let's share what this

Vanguard said is.

So there was an article that came out and you sent this to us and the article said something

along the lines of this for it said this 401k rollover mistake that cost retirement

savers millions it was a devastating thing. Billions.

Oh, billions.

This is a big deal in the fact that in 2022, if you think about it,

we moved 770 billion dollars into IRAs from 401k.

So 401k rollovers, rolling into IRs, there's a lot of money movement of people transitioning

from employer sponsor plans to IRA accounts.

The thing I think is interesting is that people have lost the fact that when you do a rollover transaction,

it's actually a two-part transaction.

You, you, when you move money from your 401k to an IRA,

they're going to make you move it typically as cash.

They're going to make you liquidate whatever is in the account, transfer it over. So when you hear that there's

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