Is it better to leave a 401(k) account with a former employer or roll it over to an IRA?
By Dan Moisand | August 14, 2015 | Comments Off on Is it better to leave a 401(k) account with a former employer or roll it over to an IRA?
Making News…
We produce regular Q&A columns for Florida Today and MarketWatch, a personal finance website of the Wall Street Journal, as well as pieces for Financial Advisor magazine and Nerd Wallet among others. Here is a sampling from the last three months.
We also act as a source to many prominent media outlets, speak at and/or attend various conferences, and advocate for the development of financial planning as a profession.
Tamayo lends his expertise: The Financial Planning Association, in conjunction with CNBC, conducted a survey of 187 financial planners nationwide with special expertise advising small business owners including our own Ron Tamayo. The survey noted that while 78% of small business owners planned to fund their retirement by selling their business, less than 30% had a written succession plan. As Ron noted in the CNBC write up of the survey that while finding a buyer can be challenging, many business owners make it harder by waiting to develop an exit plan “Turning over your company is a hard transition that many entrepreneurs don’t want to face or think about. That’s why they never address the issue until the 11th hour.”
Developing the Next Generation: Moisand Fitzgerald Tamayo, LLC was one of only 4 firms selected in the state to participate with Charles Schwab’s 2015 Intern program. We hosted interns to let them see how a financial planning firm operates. Charlie Fitzgerald, III also spoke to a dozen interns sharing the duties and responsibilities of a Financial Planner. Several of the interns were surprised at how different a truly independent fee-only financial planning firm like ours is from the vast majority of financial services firms. Interns learned firsthand how titles like “Financial Advisor” can mean very different things from firm to firm. Working directly and only for clients, rather than as a representative of a financial services firm, dramatically changes one’s approach to the markets and addressing clients’ needs.
Making an impression: After Dan Moisandspoke at Financial Advisor magazine’s Retirement Symposium in April, the magazine’s editor was inspired to make the topics he covered the subject of the cover story for the June issue. The discussion centered around how people undermine their retirement in ways that have nothing to do with investments, such as supporting adult children, spending too much on second homes, failing to plan for health care costs, and starting a business.
According to the editor’s letter, “The idea for this article came from Greg Sullivan of Sullivan Bruyette Speros & Blayney in McLean, Va., and Dan Moisand of Moisand, Fitzgerald Tamayo in Melbourne, Fla. Greg and Dan participated in a panel that I moderated at our annual retirement symposium in Las Vegas in April. It was easy to tell from the audience that this subject resonated with advisors. So thank you Greg and Dan for having the guts to talk about it.”
If you have any questions or would like to discuss anything further, please give us a call or send us a note.
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Moisand Fitzgerald Tamayo, LLC is an Orlando, Tampa and Melbourne, Florida based fee-only financial planner serving central Florida and clients across the country. Moisand Fitzgerald Tamayo, LLC specializes in providing objective financial planning, retirement planning, and investment management to help clients build, manage, grow, and protect their assets through all phases of one’s life and the many transitions in between. If you have any questions or would like to discuss anything further, please give us a call or send us a note. If you are not a client and wish to receive emails notifying you of new posts – no more than once per month – fill out the subscription information in the sidebar to the right. For more frequent updates, follow us on Facebook, LinkedIn, orTwitter.
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Dan Moisand is a fee-only financial advisor with Moisand Fitzgerald Tamayo, LLC. He is a regular contributor for multiple outlets, including Florida Today, MarketWatch, and The Wall Street Journal. His writing and financial advice have also been featured in Financial Planning, Investment Advisor, Wealth Manager/Advising Boomers, Forbes, Smart Money, and The New York Times, among other publications. He is the only two-time winner of the Journal of Financial Planning’s “Call for Papers” competition and has been named a top financial planner and advisor by multiple publications. Investment News named Dan one of the “twenty most influential men and women” in the history of financial planning. He currently serves on the Board of Directors for the CFP (Certified Financial Planner) Board.
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Tamayo lends his expertise: The Financial Planning Association, in conjunction with CNBC, conducted a survey of 187 financial planners nationwide with special expertise advising small business owners including our own Ron Tamayo. The survey noted that while 78% of small business owners planned to fund their retirement by selling their business, less than 30% had a written succession plan. As Ron noted in the CNBC write up of the survey that while finding a buyer can be challenging, many business owners make it harder by waiting to develop an exit plan “Turning over your company is a hard transition that many entrepreneurs don’t want to face or think about. That’s why they never address the issue until the 11th hour.”
Making an impression: After Dan Moisand spoke at Financial Advisor magazine’s Retirement Symposium in April, the magazine’s editor was inspired to make the topics he covered the subject of the cover story for the June issue. The discussion centered around how people undermine their retirement in ways that have nothing to do with investments, such as supporting adult children, spending too much on second homes, failing to plan for health care costs, and starting a business.