Today’s Objective…

Financial terms can quickly get confusing. Dan helps us to better understand the tricky jargon we might have heard before.

(Click the featured times below to jump forward in the episode)

First Things First.

  • [1:22] – In The News: Dan examines tech growth in the S&P 500.
  • [3:44]  – Getting To Know You: Dan tells us about some of his first jobs. 
  • [6:59] – Mind Over Money: We discover the idea of Illusory Superiority.

Tactical Points:

Financial Terms: In-Service Distributions.

  • [10:26] – In-service distributions allow you to take assets from your current employer’s qualified retirement plan and roll them into a self-directed IRA while you’re still working. Most folks assume they can’t do that until they retire or leave the company, but that’s not the case. As long as your plan permits it, you often can take an in-service distribution and give yourself more investing freedom.

Financial Terms: Roth Conversion.

  • [11:20] – A Roth conversion is one of those financial terms you should most definitely know. Perhaps you earn too much money to contribute to a Roth IRA. You can still take the money that’s in your traditional IRA and convert it into a Roth IRA. Sometimes this is referred to as a Backdoor Roth. Of course, you’d still have to pay taxes on your contribution, but it would allow you to get your assets into a Roth IRA. This will enable your money to grow tax-free.

Financial Terms: ETF.

  • [12:17] – ETF stands for Exchange Traded Fund. An ETF tracks indexes including bonds and commodities, and they’re comprised of similar stocks as mutual funds. However, unlike a mutual fund, an ETF trades like common stocks on the stock exchange. That means prices change throughout the day. Mutual funds only fluctuate at the end of each day.

More Planning Points: 

  • [13:56] – Financial Terms: Fiduciary.
  • [15:13] – Financial Terms: Risk Aversion.
  • [16:27] – Financial Terms: Diversification.

The Plan:

Free Retirement Toolkit:

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Extra Planning:

The host: Dan Betzel – ContactRetirement Trailblazer Guide – Retirement Rescue Toolkit – Call: 614-472-4510