What This Episode Is About
There isn’t a week that goes by where someone doesn’t ask us about qualified plans and what they should be doing with them.
Now, I’ll give Wall Street and the government credit; their marketing is spot on.
“Qualified”sounds great, doesn’t it? You know what doesn’t sound great? Not having access to your money when you really need it and then having to pay a penalty just for luxury of spending it.
That’s the exact situation Joey experienced when he started researching his 401K turned IRA a few years ago.
He quickly realized he didn’t have any control over how much he could put into the plan or what was done with it. He didn’t understand what his money was being invested in. He didn’t know what the taxes would be on that money in the future. For all intents and purposes, his money was in prison.
In this episode, Joey talks about that experience, how he managed to get his money back, and the multiple investment and personal opportunities he’s been able to take advantage of in the years since.
Mentioned In This Episode:
- How IRA’s are prisons for our money
- The shocking realizations Joey came to when he started researching his IRA
- Examples of clients running into issues getting money from their IRA’s
- The opportunities Joey’s been able to take advantage of now that is money is no longer in the prison of an IRA
- How Joey’s investments outside of qualified plans have helped with recent health issues