My rollover IRA (from several employees) is now totally under my control. Managing your own retirement is an excellent hobby. I've learned so much being more actively involved. Wish I'd done so sooner!
I never used that tool, but I rolled over my TIAA 403(b) accounts to Vanguard IRAs as soon as I retired. TIAA was too expensive. I used both TIAA and independent advisors while I was with TIAA. I did not have any problem with the TIAA advisors. I am now running a DIY retirement with New Retirement software's help and advice from excellent RUclipsrs like I was Retired!
I manage my own retirement. I have IRAs and an old 401k. My fidelity account gives me a “free” advisor. She is very good. She does not try to push products on me because she knows I’m an educated investor. You need to know the products that you own. Many advisor charge 1% or more and put people into expensive mutual funds with high fees. My 401k currently is invested in VIIIX which has a low expenses .02% expense ratio. My advice is to educate yourself. Financial literacy is very low in this country and people get drawn into investments with high fees.
Amen! When I was retired, I knew I couldn't afford an AUM advisor! Especially the point-and-a-half that say that they make more when you make more! Do the math! It could add up to a quarter-million in dollars going to someone else instead of your own retirement! I focused on reducing my Net Expense Ratios too and now have a portfolio with total 0.03% NER. Low-cost index funds!
My rollover IRA (from several employees) is now totally under my control. Managing your own retirement is an excellent hobby. I've learned so much being more actively involved. Wish I'd done so sooner!
I never used that tool, but I rolled over my TIAA 403(b) accounts to Vanguard IRAs as soon as I retired. TIAA was too expensive. I used both TIAA and independent advisors while I was with TIAA. I did not have any problem with the TIAA advisors. I am now running a DIY retirement with New Retirement software's help and advice from excellent RUclipsrs like I was Retired!
Thanks, Dan. Education is the best preparation!
I manage my own retirement. I have IRAs and an old 401k. My fidelity account gives me a “free” advisor. She is very good. She does not try to push products on me because she knows I’m an educated investor. You need to know the products that you own. Many advisor charge 1% or more and put people into expensive mutual funds with high fees. My 401k currently is invested in VIIIX which has a low expenses .02% expense ratio. My advice is to educate yourself. Financial literacy is very low in this country and people get drawn into investments with high fees.
Amen! When I was retired, I knew I couldn't afford an AUM advisor! Especially the point-and-a-half that say that they make more when you make more! Do the math! It could add up to a quarter-million in dollars going to someone else instead of your own retirement! I focused on reducing my Net Expense Ratios too and now have a portfolio with total 0.03% NER. Low-cost index funds!