In this episode, Financial Planner and Shareholder, Zach Binzer, CFP®, and Client Service Specialist, Heidi Lenhart provide a deep dive into the complexities of retirement plan rollovers, shedding light on when and why to consider this significant financial step. Whether you're consolidating accounts, navigating tax implications, or planning for retirement, they share actionable insights to help you make informed decisions.
Key Takeaways:
(01:10) A rollover transfers retirement funds between accounts during life transitions.
(02:15) Over half of Americans face retirement rollovers at some point.
(03:12) Common triggers: career changes, retirement, or in-service distributions.
(06:13) Administrative fees and investment costs vary by plan type.
(07:59) Consolidating accounts simplifies management and boosts options.
(10:34) Advisors must provide a "Best Interest Analysis" for guidance.
(14:13) Direct rollovers and trustee transfers prevent tax issues.
(18:38) Roth accounts grow tax-free; traditional accounts defer taxes.
(22:03) Advisors ensure smooth, compliant rollover processes.
Resources Mentioned:
Foster & Motley, Inc. | Website -
http://www.fosterandmotley.com
Connect with Zach Binzer and Heidi Lenhart:
info@fosterandmotley.com
+1 513-561-6640
LinkedIn: Zach Binzer, CFP® -
https://www.linkedin.com/in/zach-t-binzer-cfp/
LinkedIn: Heidi Lenhart -
https://www.linkedin.com/in/heidi-lenhart/
LinkedIn: Foster & Motley, Inc. -
https://www.linkedin.com/company/fosterandmotley/
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