Ask Terry Questions Should I move funds out of a 457 Deferred Comp plan?

Should I move funds out of a 457 Deferred Comp plan?

By Terry Savage on July 13, 2024 | Financial Planning / Retirement

Hi Terry, I need some advice, I retired from a municipal job 9.5 years ago. I was enrolled in a 457 Plan managed by Mission Square, which currently has about $440k. Several friends have suggested that I find a CFP who can transfer these funds to a new account they would manage. Their reasoning is that someone working for me will get me a better return?
Your thoughts? Thank you

Terry Says

That all depends on  who is “working with you”!!!   To find a trusted advisor please read this:  Pam Krueger Wealthramp – Terry Savage

The above will connect you with a FEE-ONLY, FIDUCIARY advisor you can trust.  Pam is a terrific matchmaker!

I typically advise doing a trustee-to-trustee rollover at retirement, because the funds inside a 457 plan tend to be more aggressive to help those saving for retirement.  Once in retirement, you might want some more conservative funds or even a money market fund for a portion of your investment.

 

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