Whether you are dealing with a 401k rollover retirement account, TSP, IRA transfer, ROTH IRA conversion, or a lump-sum pension distribution, the potential for making costly rollover and retirement distribution mistakes is high. What you don’t know can hurt you.
Your first questions should NOT be about where to invest your money. You first need to define what you need (and want) this rollover retirement money to do for you.
So how can you avoid common retirement rollover and distribution mistakes?
Always begin with the end in mind. Have an exit strategy.
Know answers to your “what if” questions.
Answering these ten must-know questions about your retirement rollover or distribution is vital to your financial health and future security. In fact, it is important to know the answers to these questions before you make ANY financial decisions. Because life changes. Constantly.
- How much will it cost me if I change my mind?
- What if I need my money today?
- Where does my money go when I die?
- What if my spouse dies?
- Who guarantees the guarantees?
- When can I get my money without any strings attached?
- Why is this investment a good idea for me?
- What am I investing in?
- How does this affect my estate plan? (You DO have a plan, right?)
- What are the tax consequences?
Every month I’ll be providing a new report on retirement distributions gone wrong. And how YOU can do them right. Be sure you sign up the SWAN 360 retirement newsletter to receive notices and updates to our retirement decision guides.
If you’d like me to help you answer these vital questions (and more) about your current financial situation, contact me today. Call 330-499-6231 ( or toll free 855.SWAN360 | 855-792-6360) and ask for Lynn. Or contact me by email. We’ll organize your financial life. And keep it that way.
Check out our retirement income solutions.
