Matt Simon - Financial Advisor

You have 3 options for old 401ks:

1. Leave it with your old company
2. Bring to your new company
3. Roll into your own IRA

- Option 1 leaves your old employer in control
- Option 2 gives control of it to your new employer
- Option 3 gives you full control over your investments

Before making any changes, make sure you consider fees, investment options, and the ability to borrow against your 401k but not an IRA.

That being said, it's also important to consider this-

Who do you want controlling your money?

Brain Drain has ruined entire companies, communities and even countries.

But what causes it?

Brain Drain is when educated and skilled professionals leave their country, their community, or their company in search of a better opportunity elsewhere.

If you're a business owner worried about retaining your employees, it's super important for you to understand this concept.

In tomorrow morning’s newsletter we'll explore the underlying causes and long-term consequences of Brain Drain.

Join 115 other readers of Simon Says tomorrow morning at 9am EST.

https://lp.constantcontactpages.com/su/DCJaqCn/SimonSays?hss_meta=eyJvcmdhbml6YXRpb25faWQiOiA5MDIsICJncm91cF9pZCI6IDk5MTgwOCwgImFzc2V0X2lkIjogMjEwNzE2OSwgImdyb3VwX2NvbnRlbnRfaWQiOiAxMTYyMjQ1MTgsICJncm91cF9uZXR3b3JrX2NvbnRlbnRfaWQiOiAxODE4MDM3MzV9

I’m not worried about ChatGPT replacing financial advisors, and here’s why.

On a review call last week, I asked a client how I was doing as his advisor.

He was appreciative of the question and gave some great feedback.

And he specifically said this,

“Any Google search can answer basic financial questions but you help me think through what questions I should even be asking.”

This is why I believe in goals-based financial planning.

We find out what you're aiming for, then we strategize on how to get there.

“Many people put off creating their estate plans because they believe it's only for rich or old folks. But that's not true at all!

Certain parts of estate planning, like medical directives, are important for everyone, no matter your age or net worth.

But yes, having a well thought out plan becomes even more essential if you have children, are in a second marriage, or own a business or real estate.”

Check out my last newsletter about estate planning!

https://myemail.constantcontact.com/Simon-Says--9--The-3-Key-Elements-of-Estate-Planning.html?soid=1139941644593&aid=rbn3TmlHS4o