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Qualified Pension/IRA rollover guide.
- Thread starter GarySpicuzza
- Start date
That chart will help many members, well done !
Oh yes, welcome to the madness !
Become Rich and Remember Us ! :nuts:
GarySpicuzza
Visitor
I've found that chart to be very informative.
Many people just simply do not know they are not locked into their pension plans. At retirement they can keep their plan as is or they can authorize a direct rollover to any other qualified IRA tax free with any bank, investment firm or insurance company.
We had one client who had an Employee Stock Option Plan (ESOP) with some energy company with 71% of his funds in his former companies stock and he didn't know he could diversified himself with safe investments. His companies stock price has dropped from $29 per share to $24 per share on about 14,000 shares....he's down $70,000 from December 2007!
71% of a $600,000 pension in one (1) singular stock company stock is very high risk when you're past age 70. That's $426,000 that's at the mercy of the day traders playing stocks like a flea market swap meet.
How do you spell ENRON
My 2 cents which in 1913 had the purchasing power of 43 cents today.
Many people just simply do not know they are not locked into their pension plans. At retirement they can keep their plan as is or they can authorize a direct rollover to any other qualified IRA tax free with any bank, investment firm or insurance company.
We had one client who had an Employee Stock Option Plan (ESOP) with some energy company with 71% of his funds in his former companies stock and he didn't know he could diversified himself with safe investments. His companies stock price has dropped from $29 per share to $24 per share on about 14,000 shares....he's down $70,000 from December 2007!
71% of a $600,000 pension in one (1) singular stock company stock is very high risk when you're past age 70. That's $426,000 that's at the mercy of the day traders playing stocks like a flea market swap meet.
How do you spell ENRON
My 2 cents which in 1913 had the purchasing power of 43 cents today.
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