WEBVTT - Professional Development: BUSINESS EQUITY ADVICE, & IRA vs 401k

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<v Speaker 1>An illegal alien from Guatemala charged with raping a child

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<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

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<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

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<v Speaker 1>some of the heinous migrant criminals caught because of President

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<v Speaker 1>Donald J. Trump's leadership. I'm Christy nom the United States

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<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

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<v Speaker 1>crossings are at the lowest levels ever recorded, and over

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<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

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<v Speaker 1>are here illegally, your next you will be fined nearly

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<v Speaker 2>Be protected sponsored by the United States Department of Homeland Security.

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<v Speaker 3>So as far as the investment side, yeah, the dollar

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<v Speaker 3>cost average. I think you had talked about that. That's

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<v Speaker 3>a great way to start if you you know, it

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<v Speaker 3>sounds like you started something with the retirement with the raw.

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<v Speaker 3>But I don't know if you have a brokerage account,

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<v Speaker 3>but if you don't, open a brokerage account, a non

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<v Speaker 3>retirement brokerage account, so that's money that is not tied

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<v Speaker 3>to your retirement. You can invest in that every single month.

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<v Speaker 3>You spoke about Lawrence's class, so I'm assuming that you've

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<v Speaker 3>been you've been tapped in with that, So that's great

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<v Speaker 3>as far as you know, talk about investing. And then

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<v Speaker 3>of course we talk about investing every Monday with Market Monday,

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<v Speaker 3>so you know, we talk about the ets, the index funds,

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<v Speaker 3>all that stuff. So you can pick a couple of

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<v Speaker 3>stocks funds that you feel comfortable with and start putting

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<v Speaker 3>money in every single month.

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<v Speaker 4>That's one way to just get.

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<v Speaker 3>The ball rolling and you know, get into the actual

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<v Speaker 3>investment game where you're putting money away over the consistent

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<v Speaker 3>period of time. Now, as far as the pilot situation, obviously,

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<v Speaker 3>from what you're saying, that's a little bit more capital

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<v Speaker 3>a lot more capital intensive, so it probably would be

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<v Speaker 3>difficult to self raise or self fund that type of project.

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<v Speaker 3>Me personally, I'm real big on collaboration. That's something that

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<v Speaker 3>you know we've practic and we still do to this

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<v Speaker 3>day is collaborate with different people. And I just personally

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<v Speaker 3>feel like, you know, you can do a lot more

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<v Speaker 3>together than you can separate. And even if that means,

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<v Speaker 3>you know, working with other people for equity, like in

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<v Speaker 3>giving up equity, like it's not wrong with giving up

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<v Speaker 3>like we have given up equity. And our third partner, Mike,

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<v Speaker 3>he's a childhood friend of ours, but when we brought

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<v Speaker 3>them on, we didn't have enough money to actually pay them,

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<v Speaker 3>so we gave him a part of the company.

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<v Speaker 4>Now he's our business partners.

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<v Speaker 3>So I think giving up ownership, giving up a portion

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<v Speaker 3>of equity and giving up ownership of two different things.

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<v Speaker 3>Giving up some equity can be a smart move if

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<v Speaker 3>somebody can add value. That's why you give up equity,

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<v Speaker 3>if you don't necessarily have the resources and you need

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<v Speaker 3>to bring somebody on. Now they can provide their talent,

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<v Speaker 3>their relationships, you know, whatever they can bring to the table,

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<v Speaker 3>and they're not working for money because now they're a

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<v Speaker 3>part owner in the company.

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<v Speaker 4>So the company's success is tied to their success.

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<v Speaker 3>So it's in their best interest for that company to

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<v Speaker 3>be successful because the more money that the company makes,

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<v Speaker 3>the more money that they make, as opposed to just

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<v Speaker 3>hiring an employee, and you know, if it's a good employee,

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<v Speaker 3>then you know they'll work is hard just because you

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<v Speaker 3>know that's what they're supposed to do. But obviously, you

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<v Speaker 3>know there's a lot of employees that don't care because

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<v Speaker 3>you know, it doesn't matter how well the company does,

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<v Speaker 3>or you know they're still going to get paid the

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<v Speaker 3>same amount. So that's why the equity play is not

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<v Speaker 3>always a bad play. Partnerships are not always bad. It's

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<v Speaker 3>just a matter of just being intelligent about it, keeping ownership,

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<v Speaker 3>keeping you know, a majority state, things of that nature.

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<v Speaker 3>So I would approach it from that standpoint. I would

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<v Speaker 3>approach it from partnerships. Look to see you say, you've

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<v Speaker 3>been in the industry for a long time, so I'm

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<v Speaker 3>sure you have a lot of great relationships with different people,

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<v Speaker 3>and you know, who knows who would want to work

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<v Speaker 3>with you or who won't want to partner with you,

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<v Speaker 3>and different things of that nature. So that's how I

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<v Speaker 3>would approach it, as opposed to even thinking about funding

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<v Speaker 3>it out of my own pocket with that much capital

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<v Speaker 3>if it was less capital, but if it's a lot,

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<v Speaker 3>if it's gonna be real, real capital intensive, then you know,

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<v Speaker 3>you might want to go a different route.

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<v Speaker 5>Okay, that's good though. That's the partnership is definitely something

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<v Speaker 5>that's been out there. It's just again really holding in

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<v Speaker 5>or owning in on the or homing in on the

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<v Speaker 5>ownership piece. We definitely want to be attachment. I'm pretty

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<v Speaker 5>sure you can tell like sometimes people don't take you seriously.

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<v Speaker 5>But like I said, even with having the experience, it's

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<v Speaker 5>like that. But that was some good insight. Thank you

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<v Speaker 5>so much.

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<v Speaker 4>All Right, p Matt, we're coming to you and meet yourself.

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<v Speaker 6>Please.

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<v Speaker 4>What's going on?

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<v Speaker 7>Yeah, hey, okay, cool, cool, Hey, I just wanted to

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<v Speaker 7>ask a quick question. I'm sure it's been asked many times.

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<v Speaker 7>It's about four one K rollover. My specific question is

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<v Speaker 7>I have like three four one case from the previous employers.

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<v Speaker 7>I'm gonna roll like one of the bigger ones into

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<v Speaker 7>a new one that I'm participating that the employe is

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<v Speaker 7>participating in, but then the two smaller ones I want

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<v Speaker 7>to be able to invest myself.

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<v Speaker 6>So just kind of to sum it up, I have

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<v Speaker 6>I had it with Fidelity.

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<v Speaker 7>I'm going to entrust her the lgitum mount into a

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<v Speaker 7>company named the principal, and I've always uh trade with TD.

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<v Speaker 7>I had a a brokerage account with excuse me, with Fidelity,

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<v Speaker 7>but I'm I'm transferring. I transferred those funds into TV

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<v Speaker 7>because just what I've heard is that it's it's it's.

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<v Speaker 6>More user friendly, things of that nature.

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<v Speaker 7>Now my question is with the other two smaller ones

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<v Speaker 7>that I'm not going to transfer into the the account

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<v Speaker 7>that with that's with my employer. I want to have

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<v Speaker 7>a little bit of flexibility to to to move those around.

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<v Speaker 7>So I didn't know if I should just keep the

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<v Speaker 7>funds with Fidelity and have a separate IRA there or

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<v Speaker 7>transfer it into TV where I have my brokerage account.

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<v Speaker 7>Way, you know, I guess, I guess I'm a little

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<v Speaker 7>confused on what's the benefits of having it having an

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<v Speaker 7>IRA with a different company because I'm not going to

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<v Speaker 7>put it with the you know, I'm not trying. I'm

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<v Speaker 7>trying not to roll everything into my four o K

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<v Speaker 7>four one K. I'm trying to make sure that I

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<v Speaker 7>have some flexibility to to move it around, you know,

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<v Speaker 7>as I feel fit.

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<v Speaker 3>So, yeah, your current four one KS with Fidelity, and

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<v Speaker 3>you're debating whether you should roll into an IRA with

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<v Speaker 3>Fidelity or I RA with t D. Is that the question?

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<v Speaker 7>So it's actually with a different So my current fall

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<v Speaker 7>one K, I'm transferring your old Yeah, the old one side.

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<v Speaker 7>The old one was with Fidelity. So I'm transferring the

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<v Speaker 7>old ones. Two of one of the old ones, the

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<v Speaker 7>larger amount to one that my employees participating, and that's

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<v Speaker 7>called the principle. So I'm already just that's that's kind

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<v Speaker 7>of just out out there. I'm gonna just put the

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<v Speaker 7>bigger one into the one that they're contributing to.

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<v Speaker 6>But the two smaller ones that I have with Fidelity,

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<v Speaker 6>I was gonna.

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<v Speaker 7>I guess I'm trying to figure out if it makes

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<v Speaker 7>sense to transferred over to TD since I'm kind of

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<v Speaker 7>that's where my brokenge account is. My individual brokege account.

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<v Speaker 7>That way, I could kind of line things up. That's

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<v Speaker 7>that's what I'm thinking, or or I don't even know

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<v Speaker 7>if there's any benefit of just having it transferring, taking

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<v Speaker 7>that fall one K and turning it into a R

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<v Speaker 7>I RA with UH with Fidelity and just keeping it

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<v Speaker 7>where it is.

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<v Speaker 3>Yeah, I think it depends on which you have one

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<v Speaker 3>you feel comfortable with, right, Like, I mean, Fidelity TD,

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<v Speaker 3>they're both good companies. They're both, you know, very similar.

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<v Speaker 3>I personally like TD a little bit.

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<v Speaker 4>I have both.

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<v Speaker 3>I have FIDELI and TV TD. I like TD a

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<v Speaker 3>little better because it just has a better user interface

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<v Speaker 3>in my opinion. But I mean it's not like one

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<v Speaker 3>is dramatically better than the others. So I guess it's

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<v Speaker 3>just whatever you feel comfortable with. But you can roll

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<v Speaker 3>it over into it a Fidelity I RA and you know,

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<v Speaker 3>have you know, control over it and you know, pick

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<v Speaker 3>the investments that you want, or you can roll it

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<v Speaker 3>over into a T D I RA and have control

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<v Speaker 3>over and pick the investments that you want.

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<v Speaker 4>So it really just depends, honestly.

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<v Speaker 3>I mean, that's that's just up to you, Like whatever

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<v Speaker 3>whichever one you feel most comfortable with. Like I said

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<v Speaker 3>me personally, I just like TD. I like TD better

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<v Speaker 3>than Fidelity because I just feel like it has a

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<v Speaker 3>better user interface.

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<v Speaker 6>And yeah, so that's not true that.

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<v Speaker 4>That's my personal opinion.

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<v Speaker 3>So you know, but you can you can do either

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<v Speaker 3>or I mean, there's really no no dramatic difference from

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<v Speaker 3>one than the other, you know, similar, Okay.

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<v Speaker 7>All right, And it's just the last thing on that

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<v Speaker 7>on that no matter where I go to transfer it,

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<v Speaker 7>changing that for one K into an IR, what's really

0:11:01.440 --> 0:11:05.880
<v Speaker 7>the benefits of the IRA. When I'm am I able

0:11:05.920 --> 0:11:08.880
<v Speaker 7>to move things around as I feel like, so I

0:11:08.880 --> 0:11:10.480
<v Speaker 7>know I can't do that with the four one K.

0:11:10.880 --> 0:11:14.640
<v Speaker 7>So I'm assuming that's just the only benefit is the flexibility.

0:11:14.040 --> 0:11:17.160
<v Speaker 3>Right, Well, a full one K is pretty much like

0:11:17.200 --> 0:11:19.160
<v Speaker 3>frozen in the sense when you're not working it anymore,

0:11:19.200 --> 0:11:21.720
<v Speaker 3>not frozen weight. It's not growing. But when you when

0:11:21.760 --> 0:11:23.840
<v Speaker 3>you leave a job, you can't add money to your

0:11:23.880 --> 0:11:26.560
<v Speaker 3>fall one K anymore, you can't ball for it, you

0:11:26.559 --> 0:11:29.760
<v Speaker 3>don't have any like advice, and you're stuck with the

0:11:29.800 --> 0:11:32.000
<v Speaker 3>investments that's provided for you from the four one K.

0:11:32.080 --> 0:11:34.079
<v Speaker 3>So a fall one K has like a menu of

0:11:34.120 --> 0:11:36.840
<v Speaker 3>different options like they have like let's say fifteen different

0:11:36.840 --> 0:11:38.640
<v Speaker 3>funds that you can pick and choose from, but you

0:11:38.679 --> 0:11:41.240
<v Speaker 3>can only invest in those funds. So with an IRA,

0:11:42.440 --> 0:11:44.400
<v Speaker 3>you get to pick and choose the funds that you

0:11:44.559 --> 0:11:47.400
<v Speaker 3>that you want, right you can add you can add

0:11:47.440 --> 0:11:49.680
<v Speaker 3>money to it. So like let's say going forward, like

0:11:49.720 --> 0:11:51.760
<v Speaker 3>you start a business, or your job doesn't have a

0:11:51.800 --> 0:11:53.280
<v Speaker 3>full one K, your new job doesn't have a full

0:11:53.280 --> 0:11:55.640
<v Speaker 3>one K, or you can always add money to an IRA.

0:11:56.040 --> 0:11:58.439
<v Speaker 3>IRA also can serve as like a central hub where

0:11:58.559 --> 0:12:01.319
<v Speaker 3>you know, you might leave multiple different jobs throughout the

0:12:01.320 --> 0:12:03.000
<v Speaker 3>course of your life and you might have like six

0:12:03.080 --> 0:12:05.640
<v Speaker 3>different four one ks that that becomes a little difficult

0:12:05.679 --> 0:12:07.840
<v Speaker 3>to manage, but you can always roll those four one

0:12:07.880 --> 0:12:10.160
<v Speaker 3>ks into an IRA and have that as like the

0:12:10.200 --> 0:12:12.760
<v Speaker 3>central hub for all of your old four one ks.

0:12:12.840 --> 0:12:16.640
<v Speaker 4>So in a nutshell, it just gives you more flexibility.

0:12:17.640 --> 0:12:19.920
<v Speaker 3>Gives you more flexibility as far as you know, being

0:12:19.960 --> 0:12:23.160
<v Speaker 3>able to pick and choose your investments and you know,

0:12:23.679 --> 0:12:25.880
<v Speaker 3>actually being able to put money into it as well,

0:12:25.960 --> 0:12:28.840
<v Speaker 3>so those you don't have once you leave the company

0:12:29.160 --> 0:12:31.280
<v Speaker 3>with an old four to one K. So that's really

0:12:31.320 --> 0:12:33.720
<v Speaker 3>the benefit with the IRA as opposed to keeping the

0:12:33.760 --> 0:12:35.600
<v Speaker 3>money in the old for one K.

0:12:35.840 --> 0:12:37.520
<v Speaker 6>All right, sounds good. I appreciate it.

0:12:37.559 --> 0:12:40.040
<v Speaker 4>Man Andrew, you are coming to you and yourself with

0:12:40.720 --> 0:12:42.960
<v Speaker 4>and somebody saying the chat. You can't access them. You can't.

0:12:43.040 --> 0:12:45.760
<v Speaker 3>You can't access the IRA. You just pay penalty on it,

0:12:45.840 --> 0:12:48.280
<v Speaker 3>just like a four to one K. If you had

0:12:48.320 --> 0:12:50.040
<v Speaker 3>like an old four to one K and you took

0:12:50.080 --> 0:12:51.960
<v Speaker 3>the money out before fifty nine and a half, you

0:12:52.559 --> 0:12:54.240
<v Speaker 3>pay a penalty on it. But there is there are

0:12:54.280 --> 0:12:56.640
<v Speaker 3>some provisions where you can actually take some money out

0:12:56.640 --> 0:12:59.280
<v Speaker 3>of without paying the penalty tax. But you always pay

0:12:59.320 --> 0:13:02.440
<v Speaker 3>state and federal text on an IRA or a four

0:13:02.480 --> 0:13:05.319
<v Speaker 3>one K, so they're both the same Immanet regards.

0:13:05.800 --> 0:13:09.680
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