ABOUT HOSTS

Joe Anderson
ABOUT Joseph

As President of Pure Financial Advisors, Joe Anderson has led the company to achieve over $2 billion in assets under management and has grown their client base to over 2,160 in just ten years of the firm opening. When Joe began working with Pure Financial in 2008, they had almost no clients, negative revenue and no [...]

Alan Clopine
ABOUT Alan

Alan Clopine is the CEO & CFO of Pure Financial Advisors. He currently leads Pure Financial Advisors along with Michael Fenison and Joe Anderson. Alan joined the firm about one year after it was established. At that time the company had less than 100 clients and approximately $50 million of assets under management. As of [...]

Many people end up rolling their 401(k) into an IRA when they change jobs because of the lower fees and Roth conversion advantages available. Joe And Al explain why this option is a smart choice for certain investors.


Transcription:

“As far as rolling it to an IRA, some of the advantages are: if your 401(k) fees are high, you may want to roll it out to an IRA and look at low cost investments; certainly there’s additional investment choices possible. Some of the 401(k)s out there are brokerage accounts and you have the whole world available, but an IRA typically has more investment choices. It’s nice to consolidate and simplify; a lot of people end up with 5,6,7,8,9,10 retirement accounts and it’s hard to manage it that way. If you want to do some Roth conversions, it’s actually better and easier to do it in that IRA versus the 401(k). When it comes to re-characterizations, you can do a little bit more specialty or maybe more advanced moves when it comes to some conversion strategies”