Are you losing millions? Don't make this rollover mistake! Artwork

Invest in Knowledge

Invest in Knowledge is a monthly podcast about all things financial with CERTIFIED FINANCIAL PLANNER™ John Gigliello of the Albany Financial Group, based in Albany, NY. Through the course of his business, as well as this podcast, John takes an educational approach to financial planning, aiming to leave listeners with the insight they need to successfully shape their financial futures. After all, as Benjamin Franklin said, "An investment in knowledge always pays the best interest." Securities are offered through LPL Financial, member SIPC (www.SIPC.org). Investment advice is offered through Private Advisor Group, a registered investment advisor. Private Advisor Group ad Albany Financial Group are separate entities from LPL Financial. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful. This is a hypothetical example and is not representative of any specific situation. Your results will vary.The hypothetical rates of return used do not reflect the deduction of fees and charges inherent to investing.

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Invest in Knowledge

Are you losing millions? Don't make this rollover mistake!

September 16, 2024 • John Gigliello, CFP®

Investors are missing out on billions of dollars when they switch jobs.

The reason is that many end up pulling their retirement savings out of the stock market—often without meaning to.

This was the subject of a recent Wall Street Journal article which I think is important to talk about today.

Many workers, when changing jobs, roll their 401k balances out of the employer plan and into an Individual Retirement Account. Many also, unwittingly, leave the balance in cash, which is a very costly mistake.

Hi, I’m John Gigliello and you are listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.

Today, I want to talk about the options workers have for their retirement savings when changing jobs and how to avoid costly mistakes.