How to roll 403b Into Ira
Rollover 403b to IRA - Roll Over 403b to IRA
0:00 / 0:00
Quality:
Sharing buttons:
he has a go number one my name is derek
ifasi I'm the owner of a Fosse Financial
Group and today's topic I want to
discuss with you rolling over your 403b
account into an IRA account now
individuals are watching this video most
likely familiarized with a 403 B and
understand that it's very similar to a
401 K essentially an individual with the
403 B account is placing money into a
sort of retirement bucket deemed as a
retirement account known as a 403 B
account the amount of money that they're
placing into that bucket and however
well the mutual funds that we are within
that account perform determines how
large or how small that bucket is at the
end of the year at the end of the day so
individuals that are now gearing up for
retirement or individuals that left
their employers and they have these old
403 B accounts they have access to roll
over these 403 B accounts into something
known as an individual retirement
account which is an IRA account there's
some benefits to doing this as opposed
to just leaving it currently in your 403
B plan typically with individuals that
you know call to the office individuals
that are looking more towards this
rollover option it's people that have
either experienced some sort of 2008
market crash it's individuals that don't
necessarily know how to set up their how
to retire properly they don't really
know what they're placing their money
into they don't really know how well
those mutual funds that really are and
they understand that by conducting the
rollover they get put in a much better
position the two main criteria is if an
individual says hey listen I you know
I'm done with taking on this risk I
understand I'm towards the end of the
road to retirement I want to see
something that kind of like this bucket
example something that when I roll over
my money into an IRA contract it's going
to be a bucket with a type of lid over
it and this is set up through something
known as indexing strategies and this is
something that we set up through our
office so if an individual has a 403b
account and they say hey listen I want
to make sure that I have safety I
preservation I'm not jump being hit with
all these administrative fees through my
403 B account
being hit with charges on my mutual-fund
related fees on my fourth ruby account
but I still want to gain money wanna
gain I want to have growth within my
bucket within my account whenever the
market goes up but whenever the market
goes down I have that preservation I
have that protection making sure that I
will lose 0% and it's known as an
indexing strategy now the other option
and for a lot of individuals is kind of
the main criterion why they like to set
up these these types of IRA contracts
especially with insurance companies is
through something known as a lifetime
income rider a lifetime income rider so
what an individual could do is if they
have a 403b account and they say okay
you know I'm 55 years old I left an
employer I'm in my 60s and I understand
I want to retire soon if I leave my
money in a 403b account I do not know
how much money I could pull out every
single year for retirement and I have
that risk of outliving my retirement
income you know when I'm in my sixties
when I'm in my 70s if I'm pulling out an
account if that account could go down if
I'm getting hit with fees on those
accounts all those different combination
of negative aspects could make a
retirement account such as a 403 B go
down to $0 so there's ways on how you
could conduct a rollover into an IRA
contract that has a specific lifetime
income guarantee associated there so you
could do kind of a blend of if you want
to have that safe consistent growth and
have a lifetime income rider attached to
it there's a type of IRA contract for it
if you just want to have an IRA contract
that grows whenever the market goes up
it doesn't lose anything whenever the
market goes down there's a type of IRA
contract for that as well so there's so
many different ways to skin that cat
what you have to be mindful of is okay
am I eligible for for 3b rollover is a
403 B rollover going to make more sense
to go and place it into an individual
retirement account or should I just stay
put and that's one of the things that we
have over at the company we offer 24/7
customer service and it's there for the
person to be comfortable we understand
your hectic schedule you understand your
busy schedule and depending upon your
specific goals and if you understand
that maybe you cannot accomplish those
goals successfully right now
and you just want to have some
professional opinions that's what we're
here for
we'll go we'll ask you a slew of
questions to be calling in you say hey
listen I want to talk to a four-three
rollover specialist you'll be dealing
with an advisor that advisor will be
asking you a bunch of questions and
really get your brain thinking of saying
okay what are your goals can you
accomplish those goals of what you're
currently doing are there any specific
gaps in those goals if there are some
gaps then the process starts to happen
with us making recommendations for you
on average with an individual that calls
our office we could go up to about 1200
different strategy scenarios and product
lines through different types of IRA
rollover accounts making sure that it
correlates specifically to your goal so
that we'll say okay listen option a is
gonna be these are going to be all the
proces is gonna be all the cons option B
these are all the pros these are all the
cons options C these are all the pros
these are all the cons but we're going
through on average 1200 different
scenario sometimes we go through much
more than that depending upon the client
situation but the whole reasoning behind
that is because depending upon your age
depending upon the amount of money
you're looking to place in there and
what you want to see happen with these
types of accounts that's all the
different variables that have to go into
effect making sure that you're tying
that with specific strategies to get
your optimal result we are a plus rated
on the Better Business Bureau we've
always had very good reviews we've never
had any complaints and it is because of
this methodical process we have a
proprietary process and a proprietary
strategy known as the RPS which is the
retired sharp planning system and this
allows us to go and when you're calling
in depending upon your area to make sure
that we're matching it up with that all
the different safe money planning
strategies and IRA rollover strategies
you know making sure that we could give
you the optimal result so no other
company has this retired sharp planning
system process setup definitely give us
a call one eight hundred five six six
one zero zero two and just to kind of
add on an additional reasoning the
reason why you want to place it from a
four three b account to an IRA account
is because it's going to be going from a
qualified account to a qualified account
meaning that you're not it's not as if
you're taking your four three B money if
you had a hundred thousand dollars
that's sitting there
as if you're throwing that money into
your checking account because dependent
upon your age there might be a penalty
there or also on the taxation standpoint
you get hit with full taxation on that
as well so you want to make sure that
you're doing it the correct way that
you're not following victim to some of
the different strategies and and
downfalls that individuals have made
when rolling over there for three B
account and you know if this is
interesting to you in any way we'd love
to help you out and at least give you
some non biased opinions and non biased
feedback on you know some of the best
contracts and strategies for your
particular situation please make sure to
subscribe to our YouTube channel retire
sharp so you could have access to the
most updated videos I want thank you
very much for watching this video
