Selecting Investments Or An Investment Advisor

This is the fourth in a four-part series designed to help you determine the best way to proceed with your previous employer’s company retirement plans, including 401(k)s, 403(b)s and more. Part 1 | 2 | 3 | 4

Whether or not you choose to keep your previous employer’s 401(k) where it’s at, roll it over to your current employer or move it to an IRA, you will still be responsible for its management and investment direction.  As discussed in the previous post, that can be a challenge if investing is not your specialty.  Don’t worry – we can help.

Our investment management service ensures that a financial planner can help you identify the advantages and disadvantages to holding your investments in a employer retirement plan or an IRA. Read the rest of this entry »

Should I Rollover My Retirement Account(s) To An IRA?

This is the third in a four part series designed to help you determine the best way to proceed with your previous employer’s company retirement plans, including 401(k)s, 403(b)s and more. Part 1 | 2 | 3 | 4

Now that you understand at the pros and cons of leaving your 401(k), 403(b), or other employer sponsored retirement plan with a previous employer let’s take a look at another option, rolling over your retirement account(s) from your previous employer into an IRA.

The advantages of converting your retirement account(s) to an Individual Retirement Account (IRA) include:

  1. Opening your IRA with a discount brokerage to receive much lower transaction costs.
  2. More visibility of your current investments and more detailed record keeping.
  3. The ability to invest in thousands of different securities instead of just selecting from a pre-selected list of 5-15 options. This allows you to create a specific portfolio designed to fit your unique needs, not just be lumped together with 100’s to millions of other investors.
  4. In most cases much lower administration costs. In a self-directed IRA you may be able to greatly reduce your expenses by removing the extra administration fees present in your previous retirement account. Read the rest of this entry »

Should I Leave My 401(k) With My Previous Employer?

This is the second in a four part series designed to help you determine the best way to proceed with your previous employer’s company retirement plans, including 401(k)s, 403(b)s and more. Part 1 | 2 | 3 | 4

Are you one of the many people that still have company retirement plans (401(k)s, 403(b)s, etc.) held at your previous employer(s)?  As with all decisions we face, the decision to rollover a company retirement plan must be done with adequate information and disclosure so that you know in detail all of the advantages and disadvantages related to each possible choice.  With that in mind, lets discuss the pros and cons of keeping your retirement funds in your previous employer’s 401(k). Read the rest of this entry »

What Should I Do with My 401(k) After Changing Jobs?

This is the first in a four part series designed to help you determine the best way to proceed with your previous employer’s company retirement plans, including 401(k)s, 403(b)s and more. Part 1| 2 | 3 | 4

What do you think about when you get a new job?

If you’re like most, you’re focused on what the new employer expects from you, learning your position, new processes and dozens of other details that come along with a new position.

This can be a very stressful time for any individual and although it’s the last thing anyone wants to think about, it’s important to remember your company retirement plan(s).  These include 401(k)s, 403(b)s, SIMPLE IRAs, Thrift Savings Plans and more.  If you’re not consciously thinking about your 401(k) or other employer sponsored plan it can be easy to think “I’ll get around to it later” and eventually forget about it all together. Read the rest of this entry »

Do I Need Financial Planning?

Have you been thinking about creating a financial plan for yourself, but just don’t know if you actually need to take the time to do it? If you’re teetering on the idea, ask yourself the following questions:

  • Are you unclear about how your current investments are performing?
  • Do you and your spouse differ over how to handle your money?
  • Are you confused about the vast array of investment options?
  • Do you feel you pay too much in taxes?
  • Are you uncertain if you have the right kinds and amounts of insurance?
  • Have you delayed creating an estate plan?
  • Are you worried about not having enough money to retire?

If you answered ‘yes’ to any of the following questions, there’s a good chance you should consider financial planning. Read the rest of this entry »

Saving Money By Not Paying Commissions

Last week I wrote about the importance of receiving advice from a professional without conflicts of interest– putting the client’s best interest first. Today I’d like to focus on the scenarios in this capacity that can save you money.

No Sales Commissions

Without a Sales Commission… 

When working with a financial planner that doesn’t earn a sales commission, their only form of compensation is the fee you pay for their service. There are several ways to pay, but the two most common are paying an hourly rate for service rendered or at an annual rate based on your net worth or investment balances. This is how clients pay for advice at Callahan Financial Planning. Read the rest of this entry »

More About Callahan Financial Planning

Who are we?Callahan Financial Planning logo

Callahan Financial Planning is a new, independent financial planning company based in Omaha, NE with a better way to pay for and receive finance advice. Aware of the conflict traditional sales staff and commissions produced, we set out to build a financial planning model to create, implement and manage financial plans to your goals… free from financial product sales. Read the rest of this entry »

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