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Author: OldOne Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 74778  
Subject: Re: New Job Offer-Not sure what to do Date: 3/28/2006 2:34 AM
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RUN, RUN, RUN far away from this advisor. Annuities should be your LAST choice when all other options have been exhausted and you're still being killed by taxes.

I agree. Don't literally run, but fire his @$$ first thing in the morning. Transfer all money into your own control and be done with him. If he has made a recommendation which is so much against your best interests and in favor of his own, I would not be surprised to see some other hanky-panky going on with your money. Oh, nothing illegal, but higher than necesary fees, well hidden.

will lose 40% of current 401(k)

I don't think this is correct. They will only lose 40% of the paltry 3% match. The 6% match at the new job will more than make up for this in a few years.

A large plus has been missed. The existing 401(k) can be rolled over to an IRA where you have complete control over investments. This is a big benefit of taking the new job.
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