Rolling Over Retirement Accounts

Rolling Over

While I do not typically find that I fit the stereotype of the Millennial generation, there is one aspect of it that I identify with. Before I settled into my career as a financial advisor I worked for a few different employers. Each of those companies were great places to work, and I left each one with valuable professional experience. One thing I did not leave with however were my retirement funds.

Why That’s Bad

It’s an easy thing to put off as a financial advisor. When I’m sitting at my desk it is my client’s IRA Rollover that takes priority and not my own. But I am not doing myself any favors by not taking care of it. By having those assets in different retirement accounts with previous employers, I am hurting myself.

*   Paying higher fees
*   Hard to keep track of investments
*   Not necessarily well diversified
*   Not invested in socially responsible companies

What To Do

To solve this problem I need to roll these assets over into two accounts; an IRA and a Roth IRA.  I have both pre-tax and after-tax contributions in those accounts, so I need both.

The Benefits

*   Lower fees: I’ll reach more mutual fund breakpoints and won’t have to pay high 401(k) administrative fees
*   All investments in one place, where I can keep better track of them
*   More investment options: Most 401(k)s don’t have socially responsible investment options

If you have retirement accounts with previous employers, let us know. If this strategy is appropriate for you, we can roll the accounts over into an IRA or a Roth IRA in your name and invest your assets in a socially responsible portfolio that matches your values.

Katelyn

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