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Thursday, June 21, 2007 |
Financial advisors going for your 401(k) plan funds |
The CNNMoney.com article discusses how some financial advisers are telling their clients to roll over money from a former employer's 401(k) plan into something called an IRA annuity. As per the article, IRA annuity pitches are increasingly being made by some financial advisers. Reason? Because of the hefty fees associated with such products!
According to the article, it usually doesn't make sense for most people to switch money from 401(k) plan to IRA annuity which is simply an annuity held inside an IRA account. As per the article, it's generally better to leave money either in the 401(k) plan itself or roll it over to an IRA.
For complete article, check out:
AP/CNNMoney.com: An IRA by any other name...
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posted by Ruby @ 7:10 AM
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Favorite Quote |
"If you look at what you have in life, you will always have more. If you look at what you do not have in life, you will
never have enough".
                - Author Unknown
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