by roger chartier 9-5-2012
What a mess…
You have worked for 6 different companies over the years and they have retirement plans and you also have 401K’s and CD’s and IRA’s, mutual funds, etc.
Well here is a solution to put into action early on in the game of planning for retirement.
A lot of people avoid dealing with life insurance but in reality a $75,000 insurance plan could provide as much as $50,000 a year for the next 20 years after the death of the insured person.
Get your investments into a single plan
For those who want to stay with the mutual funds that they have bought, they can use a company such as Ameriprize, Schwab or Fidelity and have them organize your various investments so that you get a single report on your financial situation as it grows, (hopefully).
Get your retirement plans organized
Into an IRA for when you retire. This offers a lot of investments choices.
The favorite of mine is the Roth IRA for it’s value all in all.
The 403 B plans
Could be tough to deal with if they are an annuity.
In the annuity you can’t take all of your money out to be put into an IRA at once without a penalty but you can take at least 10% a year so do just that.