According to the Investment Company Institute, only 1.9% of all Roth IRAs are rollovers. Why aren’t more opting to rollover into Roths?
Education
There’s more to converting than meets the eye. It all depends on several factors you might not be things about (but should). Just in case you might have missed one, we’ve provided you a list to quickly scan.
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The GOT system offers a viable and practical alternative to relying on outdated MPT tools. Although still widely in use, MPT-based calculators and analyzers can sometimes lead retirement savers to make decisions that aren’t in their best interest. That statement alone should trigger concerns from the mindful fiduciary.
So one wants his epitaph to read “Here lies John Doe. He beat the S&P 500.” There needs to be an easy-to-understand and easy-to-implement system that properly reflects both your goals and the consequences of failing to meet those goals. Retirement savers want and need a system that represents a better way to set and meet retirement goals.
Many professionals and most of the current generation of finance professors have long ago removed “risk” from their investment decision-making algorithms. These forward-thinking folks recognize the greater importance of managing retirement saver behavior over managing irrelevant investment risk as it pertains to meeting or exceeding the goal of retiring in comfort.
You’re the one ultimately responsible for all decisions, from picking and choosing what you do and buy to determining how to manage your assets and cash flow stream. Oh, and did we forget to mention this is for the rest of your life?
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It’s understandable, given the many hats plan sponsors wear, that mistakes will be made. The challenge is to not dwell on them, but to have a reasoned and determined process to address and correct them.
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As you reach your seventh decade (that would be turning age 60 for those who forgot your first decade includes only your single digit years), you find yourself fast approaching that universal goal line known as “retirement.” Don’t let the nearness to the final goal may fool you into inaction.
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Thanks in part to media reporting, retirement savers objectives are often misplaced. Striving for a high return or outpacing a particular index does not make for a successful retirement savings strategy.
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“While it is preferable to start at a young age, you are never too old to start making good financial decisions. If you have made mistakes in the past, it is important that you recognize where you went wrong, and start taking the proper steps to fix any issues you may have created, so that you can move towards a healthier financial state.”
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