Wealth Transfer Planning 6 of 6
Estate and Legacy Planning
When I hear the expression, “what’s old is new again,” I’m apt to reflect fondly on the days of yore, how something from the past - vinyl records, bell-bottoms, (hell, actually using a phone for talking) - has re-established itself in the contemporary ethos, having undergone a transformation, evolution, or innovation of some kind, and having done so, become a better vers
Changing jobs is a much more frequent occurrence than it used to be. Eventually people even retire (at least that is what I hear). When either of these events occurs, it is too many times the case that a person might not know exactly what to do with their former employer plans (we are dealing with 401k’s here, but most of this also applies to 403b’s).
Remember, keep good records and consult a professional
It’s never too early or too late to start planning for retirement. However, in the U.S., when it comes to retirement savings, later seems to be the standard. According to RothIRA.com, only 56% of today’s workers in the U.S. are currently saving money for their retirement, and 38% of those currently saving have less than $10,000 saved.