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Five Financial Moves To Make When You Change Jobs

Whether you leave your employer or your employer leaves you, changing jobs can be one of those money triggering events when you begin to take stock of where you are financially.    Job changes often bring along new responsibilities and challenges, and experience tells us that analyzing and maximizing your new benefits package normally goes to the bottom of the barrel.    This makes a ton of sense as typically the first three to six months in a new position you are immersed with the learning curve of a new role at a new company.    Having a financial advisor by your side can be a valuable resource to make these important decisions.   Here are five financial moves to make when you change jobs. Get all of your 401(k)’s in one backyard– When you hop from job to job, you may have left your 401(k) at your former employer.    I often refer to these as orphan 401(k)’s because most participants don’t pay attention ...

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VIDEO | How To Rollover Your 401k

Published on Nov 19, 2012 Why do you need to know the details on how to rollover an old 401(k) plan? FULL ARTICLE HERE – http://bit.ly/UP7gZK – The average person holds 11 jobs from the age of 18 to 44, according to the Bureau of Labor Statistics, and for many of us that means 11 or more workplace retirement accounts. Because not all employer plans require you to leave the plan when you leave the company, you could end up with several, disparate retirement accounts. I like to use the analogy of being a babysitter when it comes to orphan 401(k) plans. Every time you leave an old an employer and start with a new, essentially you leave a child in a backyard. If you move between three or four different jobs over five to ten years, that means you’ll have several kids in several different backyards. The real question is how will you be able to babysit all of those kids and ...

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Can Anyone Make Change For A $100?

What is going on with the math skills in America? With more and more young people using ATM cards, debit cards, and credit cards to make their purchases, I am beginning to wonder if anyone can make change of a $100 bill anymore. A few disclaimers about $100 bills in general before I tell you why I ask this important question. Number one, what’s the deal with people who work in $8.00 an hour jobs that actually check the $100 bill to see if it is counterfeit. The FBI can’t figure this out with all of their sophisticated technology, but Doris at the hot dog stand at the airport is going to figure the case out by holding the bill up in the light and swiping it with a highlighter pen?  Second, do convenience stores really not accept $100 bills or it is just that nobody there can make change for a $100 bill as well?  Just checking. So . ...

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Should You Convert Your Roth IRA?

Hey folks, I’ve got a news flash for you. Going into October, it isn’t just football season, it’s recharacterization season. While most of you are worried about the stock market, I hear individuals and businesses talk everyday about what they should do with their money. (i.e. should I put it in the market, should I put it in a bank account, where is the best place that I should put my money?). The reality is right now, you can’t always think about your portfolio, but also you have to start think about tax strategy. With that being said, for folks out there that make less than $100,000 adjusted gross income, you’ve got the ability to do what’s called recharacterizing your IRA. What this would give you is the ability to do if you make under $100,000 in adjusted growth income is to take your existing IRA and put it into a Roth IRA. There is a handful of legislation that ...

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