Meet Sally: She was taking more risk than she bargained for.
Home: Sauk Rapids, MN
Age: 59
401(k) Balances: $850,000 and $50,000
Total Review Cost: 3.5 hours at $135/hr
Sally started a new job as an executive of a small company three years ago. She thinks she has a great 401(k) at her new company.
Recently she received a statement from her old 401k. She became concerned when it had lost what she felt was a lot. She is 59 and wants to retire in about 9 years.
She contacted her old 401(k) company and spoke with someone on the phone. They were encouraging. But she still had questions. She searched online for local resources and decided to review her 401(k) with Mullin Wealth Management using the LPL Participant Consulting Advice Program solution.
- She decided to review her two 401(k) accounts seperataly.
- She received specific recommandations for each account.
- She did decide to consolidate and rollover her 401(k) to her current employer after discussing the specific investments available in each plan.
Peter reviewed her options. She learned that she will have a higher dependency on her 401(k) money in order to live comfortably in retirement. She decided to roll her old 401(k) into her new employer’s 401(k). Together they picked investments that had less risk.
THESE ARE HYPOTHETICAL EXAMPLES AND ARE NOT REPRESENTATIVE OF ANY SPECIFIC SITUATION. YOUR RESULTS WILL VARY.
Strategies mentioned may not be suitable for all investors, involve risk, and do not assure success or protects against loss.
THE OPINIONS VOICED IN THIS MATERIAL ARE FOR GENERAL INFORMATION ONLY AND ARE NOT INTENDED TO PROVIDE SPECIFIC ADVICE OR RECOMMENDATIONS FOR ANY INDIVIDUAL.