Evan M. Levine, ChFC's Answers and Guides
Level 20 Contributor
112 Answers and 23 Guides
It's the same, but diffrent. Both plans ( assuming traditional ,not Roth) are tax deferred untill you withdraw the funds and are subject to Minimum required distributions when you turn 70 1/2.. The 401 , however, is sponsered by an employer ( In this
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It's the same, but diffrent. Both plans ( assuming traditional ,not Roth) are tax deferred untill you withdraw the funds and are subject to Minimum required distributions when you turn 70 1/2.. The 401 , however, is sponsered by an employer ( In this case, Nuveen) which means you are restricted to the fund choices they offer to plan particpants. Also, they have complete controll going forward in terms of changes to the investments, custodian, fees etc. One potential advantage of a 401-k is that it may have a loan provision. If you tranfer your 401 funds to an IRA, you have complete controll over the invetsments choices and fees you pay. You can stay with Nuveen if you like them , self direct the investments through a firm like Scott Trade, Charles Schwab or Fidelity ....or hire a financial advisors. Going with an IRA is a much more flexible option. If you have any more specific question, feel free to reach me at 516.240.6161 or evan@completeadvisors.com Good luck!
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If you are investing what you borrow in an asset that will appreciate at a greater rate than the interest on your loan, I would consider that efficient borrowing.
I think the last part of Mike's answer is what's most important. Begin contributions as soon as possible and as much as you can handle. The traditional/Roth decision is a tricky one as it depends on unknowable variables - as pointed out by Tont and Michael.
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I think the last part of Mike's answer is what's most important. Begin contributions as soon as possible and as much as you can handle. The traditional/Roth decision is a tricky one as it depends on unknowable variables - as pointed out by Tont and Michael. If this issue is delaying your contributions I would just split it 50/50 (Roth/Traditionsl). Get it started and re-evaluate in a few years. Good luck!
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It's a timely and interesting question. Many RIA firms, including mine, charge primarily through a fixed percentage of assets .More than one person has opined that I should receive that % in the year (or quarter) when account goes up, but not when it
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It's a timely and interesting question. Many RIA firms, including mine, charge primarily through a fixed percentage of assets .More than one person has opined that I should receive that % in the year (or quarter) when account goes up, but not when it goes down. I think these folks miss the point of what I am charging for.
Their view implies they want the account to go up EVERY year. - Which of course it won't (Except Madoff's. In hindsight Madoff was just giving investors what they were demanding, but I digress)
We are charging for ADVICE; to help investors make a plan and stay on track even - and especially - when the account is going down. Hope that makes sense. Regards, Evan
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It passes based on the named beneficiary(s) regardless of what the will says.
The plan obviously needs a financial advisor who you can send these folks to. Interview a few, try to find one that is an independent RIA( Registered Investment Advisor) , with no Broker-Dealer affiliation, that can serve as a FULL fiduciary. ( Or one
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The plan obviously needs a financial advisor who you can send these folks to. Interview a few, try to find one that is an independent RIA( Registered Investment Advisor) , with no Broker-Dealer affiliation, that can serve as a FULL fiduciary. ( Or one who partners with a firm that can serve as a full fiduciary) In addition to financial advice, certain groups can guide you through the entire Fiduciary Process.. Some providers will also sign your 5500 and even represent you in an audit if necessary. It's a rapidily changing landscape, so be sure to seek out high level service and unbiased advice. Good luck.
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Your goals for your retirement and estate , the health of you and spouse, your other assets and investments, your comfort with volatility ( ups and downs of investments)...and more. Good luck!
All of this is sound advice. Trust and chemistry and important, this advisor will be a "partner" and a very important part of your life. Here are "5 questions" you can ask her/him when vetting out the right one:
http://www.completeadvisors.com/2012/04/
Take
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All of this is sound advice. Trust and chemistry and important, this advisor will be a "partner" and a very important part of your life. Here are "5 questions" you can ask her/him when vetting out the right one:
http://www.completeadvisors.com/2012/04/
Take your time.
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Great answers from Danny, Steve and David. I would agree that a written plan and a competent advisor that you trust is key. Whatever you do, please don't go chasing after the investment that has been " hot" recently like many investors do, lest you end
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