401 k

By Terry Savage on November 30, 2023 | Investments

Terry, my employer was bought out and a new 401 k plan is being offered. I have been funding my 401 k for 35 years and have accumulated a nice retirement .I wonder if I should hire someone to manage it for me? The new offerings are limited and or have high expenses. I opened a brokerage link a few year ago but then never used it. I am within 5 years of retiring .How do i find a fiduciary? Thank you!

Terry Says

First, opening yourself up to “finding an advisor” for a huge rollover is like throwing bloody chum into shark-invested waters!!

So I’m glad you mentioned the word Fiduciary. Read this link to find one you can trust:
You can meet with several until you find one that “matches” your temperament and gives you good feelings. But ALL will be well-vetted fee-only fiduciaries.

In the meantime, if you are running up against a deadline to make the move or do a rollover, read this:

It won’t cost you anything, and you can put it all in a money market fund until you make a decision on a fiduciary advisor.



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