Beware financial advice, especially when it comes from someone who stands to profit from the ideas they are giving you. That’s the story in a recent investigation into sales techniques that some brokers are using to get employees to rollover their 401k plans to IRAs. Individual retirement accounts offer a wider range of investments, but they also come with more risk than traditional 401ks.
With broker fees and riskier investments, many people who have rolled over their old 401k plan are seeing their savings drop in value leading up to and into retirement. For the full story, click here.