Retirement Account Rollovers and Consolidation for Physicians

In this episode of the Doctor’s Eyes Only podcast, Vestia Partner and CEO Lauren Oschman provides guidance to physicians on consolidating multiple retirement accounts that may have been left behind at a previous employer after switching jobs. Lauren talks about many different options including consolidating assets into an IRA, rolling over to a new employer’s 401K or 403B, converting to a Roth IRA, leaving the account as-is, or cashing out (This is rarely recommended due to potential tax implications). Some of the important details that are covered include asset protection, fees, Backdoor Roth IRA eligibility, and the hassle of tracking multiple accounts. 

Once again, as we have made known before, wee are not accountants. As financial advisors, we do often work closely with accountants to help with client tax strategy, but we are not accountants. So any of these tax specific topics talked about in this podcast, we will defer to the expertise of your accountant and recommend that you run any of these things by your accountant before you make a final decision. 

Thank you for tuning in and like always, if you have any questions, or just need guidance on consolidating a number of accounts from past employers, send us an email at myteam@vestia.com, and an advisor will be in touch. 

Investment advisory services offered through Vestia Personal Wealth Advisors, Vestia Retirement Plan Consultants, and Vestia Advisors, LLC. Securities offered through Ausdal Financial Partners, Inc., 5187 Utica Ridge Rd, Davenport, IA. 52807 (563)326-2064. Member FINRA/SIPC. Vestia Personal Wealth Advisors, Vestia Retirement Plan Consultants, Vestia Advisors, LLC, and Ausdal Financial Partners, Inc. are independently owned and operated.

This material is intended for informational purposes only. It should not be construed as legal or tax advice and is not intended to replace the advice of a qualified attorney or tax advisor.  This information is not an offer or a solicitation to buy or sell securities.  The information contained may have been compiled from third-party sources and is believed to be reliable.