We all know the market is bull every six years and crashes, so does your money. And the 401(k) is the loser because when you cash out the commissions you paid will have depleted your earnings. But you both will be happy paying deferred taxes of 40% and 10% penalty if you take your money early. If you buy auto insurance for 20 years and fail to pay for a week, you lose your insurance and aren't covered. It makes huge bounds and leaps and is unbelievable. It's a retirement vehicle and if you allowed your mother, aunt to take a retirement plan at that age, obviously the money takes several years to replenish itself, but where you both have failed in making your statements is how much money the policy would have started making in the 2nd part of 20 years. I am a business owner with a 401k plan and I will NEVER use them, and will advise every other business owner to avoid. No desire to proactively address these issues. Incompetent, broken processes, inability to directly talk with other corporate divisions, force customer to resubmit CORRECT PAPERWORK OVER AND OVER DUE TO THEIR OWN INCOMPETENCE. Couldn’t answer why they wouldn’t process form but sent two huge checks with the bad address in system!!īottom line: NEVER USE THEM! My financial advisor who does this for a living says they are THE WORST she has ever worked with. Told us to send request a 4th time as they corrected system address over phone. Call revealed they made mistake keying in address, not us. Sent letter back they couldn’t process due to address difference between faxed doc and their system. Third time we faxed and overnighted document. Two times they failed to process a faxed spouse agreement for the rollover. All have gone off without a hitch - except Voya. Working with financial advisor to roll over several 401k plans.
0 kommentar(er)
