DAVE RAMSEY

Dave Ramsey says: Financial adviser can help sort through retirement plan

Jan 22, 2019, 11:30 AM
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Dear Dave,

What happens to my Roth 401(k) when I change jobs and go to a company that doesn’t offer this type of investment savings account?

How should you proceed in this situation?

— Jamie

Dear Jamie,

Anytime you leave one company for another, you should always roll your 401(k) from your former employer into an IRA (Individual Retirement Account).

If it’s a traditional IRA, you roll it to a traditional IRA. If it’s a Roth IRA, you roll it to a Roth IRA.

You would choose your own mutual funds, and you would manage your own accounts, with the help of a financial adviser of your choosing.

When it comes to choosing a financial adviser, my advice is to find someone with the heart of a teacher.

A good financial adviser will help you make informed decisions about your money, and they will explain all aspects of your investments until you fully understand everything.

In short, a quality adviser will never encourage you to invest in something you don’t understand.

Also, look for someone with the ability to assess your overall retirement picture.

You need someone who will help you map out a complete retirement plan, and your adviser should be able to explain the big picture and provide a comprehensive, easy-to-understand strategy for achieving your retirement goals.

— Dave

Dave Ramsey

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Dave Ramsey says: Financial adviser can help sort through retirement plan