Answering the IRA vs. 401K question isn't easy but the Institute does provide the information people need to make an educated decision.
Fairfax, VA (PRWEB) December 12, 2011
The IRA vs. 401K question needs to be answered for the 77 million baby boomers starting to turn 65 years old in 2011. What makes the IRA vs. 401K particularly critical is that baby boomers are estimated to have lost up to $6.1 trillion in savings during the ongoing financial crisis. FinancialSuccessInstitute,org understands how important it' is for baby boomers to have answers about the IRA vs. 401K debate.
Richard Geller, CEO and managing director of the Financial Success Institute, recently posted the article 'IRA vs. 401K: Which is better?' on the Institute's website. According to Geller, "Wall Street has devastated the retirement accounts of both those already retired and those wanting to retire. It's imperative all Americans be exposed to alternative investments that are much more secure than what Wall Street offers. However, it's more than only finding secure investments, having the IRA vs. 401K answer enables them to find the best investing vehicle for them self. Answering the IRA vs. 401K question isn't easy but the Institute does provide the information people need to make an educated decision."
Geller continues with "One key consideration in the IRA vs. 401K debate is the amount of risk investors want to take. An IRA requires a third party custodian to control the account. Contrarily, a 401K can be fully controlled by the owner. Among considerations in the IRA vs. 401K debate are the costs associated with each account. Answering this IRA vs. 401K question finds the IRA is relatively inexpensive to initially set up. Whether investors go with a self-directed IRA or a traditional IRA, most can be set up for almost nothing. But here's the catch when answering the IRA vs. 401K dilemma, the IRA custodian charges ongoing fees. There will be both annual fees and transaction fees possibly adding up to thousands of dollars each year.
Geller points out another important aspect of the IRA vs. 401K decision with the statement, "Few investors are aware how asset protection laws affect the IRA vs. 401K decision. Investors need to consider this because our society has become overly litigious. Too many people fail to take responsibility for their actions. Instead, they look for deep pockets to file a lawsuit against. When it comes the IRA vs. 401K decision, this makes a big difference. It varies by state law but generally, when considering an IRA vs. 401K, the 401K offers much better asset protection from all lawsuits, not only frivolous ones."
Geller wraps up with, "The IRA vs. 401K question came to the forefront at the Financial Success Institute because investors are seeking alternative investments but first need answers to the IRA vs. 401K debate to be certain they position themselves for financial success from the beginning. The best place they'll find the information needed to decide between an IRA vs. 401K is from the http://www.FinancialSuccessInstitute,org.