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Ira Roll Over

by Steven Hartwell
11 replies
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I am just getting my license in MI. I want to go independent. I was wanting to know can I do Ira rollovers from 401k to a self directed. Also what is the commission on something like that? I've been out of this industry so long. About to dive back in.
  • Profile picture of the author DWolfe
    Originally Posted by Steven Hartwell View Post

    I am just getting my license in MI. I want to go independent. I was wanting to know can I do Ira rollovers from 401k to a self directed. Also what is the commission on something like that? I've been out of this industry so long. About to dive back in.
    You should ask your account. This is not the best place to listen to different opinions.
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  • Profile picture of the author OptedIn
    Why not visit a forum that deals in this subject? Wouldn't that be a more productive use of your time???
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    • Profile picture of the author Steven Hartwell
      Why are you so concerned about my time? I mean it's mine, right? I can do whatever with my time I want. If you can't answer please politely move along.
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      • Profile picture of the author OptedIn
        Originally Posted by Steven Hartwell View Post

        Why are you so concerned about my time?
        Honestly, I'm not the least bit concerned how you spend your time. You can totally waste it, any way that you see fit. Just bear in mind that once that time is gone, it's gone forever. You can never get it back. lol

        I mean it's mine, right? I can do whatever with my time I want.
        Sure, but I guess you have no real interest in actually getting your question answered by someone with a high degree of knowledge on the subject. We get it.

        If you can't answer please politely move along.
        I'm not at all known for my politeness. Ask around. My schtick is offering up common-sense advice. It's a gift.

        You're welcome.
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        "He not busy being born, is busy dying." - Bob Dylan • "I vibe with the light-dark point. Heavy." - Words that Bob Dylan wishes he had written.

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        • Profile picture of the author Steven Hartwell
          OMG! This site is hilarious..... Pure entertainment. People take life to serious on this forum.
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  • Profile picture of the author Kay King
    You've been out of WHAT industry? How would anyone here know what the commission would be on your IRA rollover?

    If you want to know about IRA rollovers - any major financial site has information - the IRS has information in detail. The company managing your IRA can give you rollover details. You won't find good free legal advice on a marketing forum.

    I can do whatever with my time I want.
    Sure you can - but you can't decide who gets to answer your post on a public forum or what they are permitted to say in their answer.
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    January was long, February was iffy, March was a freaking dumpster fire.
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  • Profile picture of the author Kay King
    I would seriously advise you to rein in the rudeness - it won't fly here for long.
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    Saving one dog will not change the world - but the world changes forever for that one dog
    ***
    Dear April: I don't want any trouble from you.
    January was long, February was iffy, March was a freaking dumpster fire.
    So sit down, be quiet, and don't touch anything.
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    • Profile picture of the author Claude Whitacre
      Originally Posted by Kay King View Post

      I would seriously advise you to rein in the rudeness - it won't fly here for long.
      Seven days. Rudeness has a seven day life cycle here. Of course, Rudeness has to mate after four days...which gives birth to snarkiness. So....logically speaking...rudeness is the parent of snarkiness.

      I just wasted 90 seconds of my life.

      Which is better than Dan Riffle, who has wasted all of his life...and the lives of those around him.
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      • Profile picture of the author Steven Hartwell
        Can you rein in your reply! Your just being a cyber bully. You cam into my space. Not the other way around. This site is such a exclusive club Insert Anderson Cooper Eye roll. lol!
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  • Profile picture of the author Steven Hartwell
    Keep them entertaining reply coming. I am enjoying this.
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  • Profile picture of the author MikeFriedman
    Originally Posted by Steven Hartwell View Post

    I am just getting my license in MI. I want to go independent. I was wanting to know can I do Ira rollovers from 401k to a self directed. Also what is the commission on something like that? I've been out of this industry so long. About to dive back in.
    I have no idea why you would ask this on a marketing forum versus an investment forum, but...

    You will likely get zero commission for an IRA rollover. Financial institutions do not make money off of rollovers, therefore they are not going to pay you a commission for something that is not generating them money.

    A rollover can happen in 1 of 2 ways usually. The money can be rolled over in cash or the investments can be transferred in kind, if the 401K allows it and the receiving institution manages the same investments.

    Commission would only be earned by the client moving the money into new investments after the rollover has happened. How much commission would depend on the investments and what the pay structure is like at the financial institution you are working with.
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