Q. I recently left my previous employer, and my financial advisor told me it might be smart to roll over my retirement account, should I do it or not?
A. When you left a previous job, you have the freedom to pick your own investment, that's why many advisors chase clients like you, because they will earn commissions from your move.
What you should do is to compare the expense ratios and any other fees you are paying to keep your money in your ex-employer's plan to what you could pay if you roll over the money into an IRA at a discount brokerage or fund company. It's best to work with a fee-based advisor so you get advice that's best for you, not advice that will generate commission for the advisor.
A. When you left a previous job, you have the freedom to pick your own investment, that's why many advisors chase clients like you, because they will earn commissions from your move.
What you should do is to compare the expense ratios and any other fees you are paying to keep your money in your ex-employer's plan to what you could pay if you roll over the money into an IRA at a discount brokerage or fund company. It's best to work with a fee-based advisor so you get advice that's best for you, not advice that will generate commission for the advisor.
RSS Feed
