Ideas
- Thread starter hockeyday
- Start date
- 11,277
Get a complete fact-finder.
I'm in your situation and I decided to keep my money in there. The reason is that the funds I have available in the plan are actually better than what I can get in the open market. The min. investment to get in the funds I'm in is $100,000+ and there's no way I could get the low fees associated with them if not through our state 403B.
So to cut to the chase...do a factfinder like stated above.
So to cut to the chase...do a factfinder like stated above.
- 1,641
Also, determine what carriers are approved by the plan, and what they are offering.
Could be a lot of work for very little pay, unless the guy is a referral source or lets you use his name.
Could be a lot of work for very little pay, unless the guy is a referral source or lets you use his name.
aguilartx
Expert
- 33
You may want to try Life of the Southwest for a 403B transfer...did the client lose their job? Email me if you have questions about LSW.
- 313
Client has until 59 1/2 before withdrawals will take place - so depending on his risk tolerance, maybe an indexed annuity would work for the rollover.
- 10,329
I would agree with insureguy5. It all depends on the clients risk tolerance, and what he has planned for this money.
If he wants safety combined with potential market related gains, then the indexed annuity would be a great option. It would greatly cut the fees that he is now paying through the 403B.
If you put him in a decent VA it should cut the fees some too most likely. 401Ks and especially 403Bs tend to be very heavy on the fees. There are undisclosed fees in them as well that can be up to 1/2%. And the VA, if its a quality one, should have tons more investment options. So theres a better chance of him being in risk appropriate funds.
Mutual Funds could work too, you just wont make as much, and they wont have the safety nets or income features that annuities can offer.
If he wants safety combined with potential market related gains, then the indexed annuity would be a great option. It would greatly cut the fees that he is now paying through the 403B.
If you put him in a decent VA it should cut the fees some too most likely. 401Ks and especially 403Bs tend to be very heavy on the fees. There are undisclosed fees in them as well that can be up to 1/2%. And the VA, if its a quality one, should have tons more investment options. So theres a better chance of him being in risk appropriate funds.
Mutual Funds could work too, you just wont make as much, and they wont have the safety nets or income features that annuities can offer.
