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Thread: 401K/Retirement Advice

  1. #1
    Pee Dub
    OK guys, the time has come that I've been working for. It is coming a couple of years sooner than I had planned because of a Voluntary Severance Package Offer(early retirement).
    The major funding will come from my 401K Plan with a little thrown in from a piddly pension fund which I plan to roll over as a lump sum into the new IRA.
    I have contacted an investment rep from ING as suggested by a couple of friends and after 4 1/2 hours I was very impressed with what they had to offer. "If it sounds too good to be true, it probably is" keeps ringing in my head.
    After mostly lurking on these forums for the last few years, I have arrived at the conclusion that even with some the silliness that gets posted on here, there is some pretty solid advice that has come from many many members who frequent these boards. Now I am asking for advice as to what to be on the lookout for as I move into this unknown territory. Seem as if all the retirees I know are on a regular pension plan.

  2. #2
    TCHB
    1. Roll it over to a IRA account on your own.
    2. Ammertrade is a great place to put the money so you can manage it.
    3. Mange it yourself
    4. If you do not like stocks put it in a fund account that tracks SP.
    5. Diversify your portfolio depending on your age and risk you want to take.

  3. #3
    INSman
    ING is a very large name and well respected in the Financial Services arena and you are probably well represented. Maybe ask your Rep for a few referals to confirm what he/she has done for them and how long he/she has been doing it.

  4. #4
    moneypit
    ING is a very large name and well respected in the Financial Services arena and you are probably well represented. Maybe ask your Rep for a few referals to confirm what he/she has done for them and how long he/she has been doing it.
    Hes right. Just because they got a badge with a name on it doesn't mean they have experience. I have seen and dealt with with many young financial advisors (Merrill, Schwab) and they sucked at advice... Go with someone that has a good rep and solid advice.

  5. #5
    BigDoug
    Very good info here

  6. #6
    Pee Dub
    Thanks for the responses. The ING rep has been in business close to 20 years and I went there on a referral. I haven't recieved my termination date yet, so I should have time to meet with a few other reps and see if they are anywhere close to what the ING programs are. Problem is, I don't really know enough to know what kind of traps are out there.

  7. #7
    SoCalOffshore
    I am a fee only CFP and registered investment advisor. Make sure ING is NOT advising the use of variable annuities or any loaded funds. You need a fee only advisor. you can check out my web site and get some solid information at www.nbscompanies.com. I am not soliciting your business, just want you to make an informed decision. Good luck.

  8. #8
    2Driver
    I am a fee only CFP and registered investment advisor. Make sure ING is NOT advising the use of variable annuities or any loaded funds. You need a fee only advisor. you can check out my web site and get some solid information at www.nbscompanies.com. I am not soliciting your business, just want you to make an informed decision. Good luck.
    I have both of them what’s the issue - seriously real question?. I paid for a load fund (2.5% American Funds family) have they have out performed all my old no-load funds and have very small maint fees compared to some so called no-load funds. So I paid 2.5% to get in, I passed that up in the first 8 weeks.

  9. #9
    NautiTwins
    I have both of them what’s the issue - seriously real question?. I paid for a load fund (2.5% American Funds family) have they have out performed all my old no-load funds and have very small maint fees compared to some so called no-load funds. So I paid 2.5% to get in, I passed that up in the first 8 weeks.
    SOme people run from VA's as if the town was coming after them with a torch. Used correctly they can be very effective meeting a current or future need. The fees are what the big concern is. Fully loaded VA can run as high as 3%.
    No-Load=No Help. And a no-load fund even though they are not stated usually run about .5-1%, trading costs, advertising etc....
    Amercian Funds are a very good fund family and some of the lowest fees out there.

  10. #10
    NautiTwins
    Thanks for the responses. The ING rep has been in business close to 20 years and I went there on a referral. I haven't recieved my termination date yet, so I should have time to meet with a few other reps and see if they are anywhere close to what the ING programs are. Problem is, I don't really know enough to know what kind of traps are out there.
    I have never ran into ING in competition so I am not sure what they have to offer. If you spoke with the guy and all he did was talk about product, I would move on and look for someone that you can have a relationship with. Everyone can offer the same products, if you do not have a good relationship your investments will suffer to meet your ever changing goals.

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