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Wisdom to Wealth - Tuesday, Nov. 10.

Published: Nov. 10, 2020 at 6:17 PM EST
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John Halterman: Are you a person with three, four or five different IRA accounts? Well if you are, I gotta ask you, “Why?” You know because I ask clients “why” all the time. And I’ll say to them, ‘how did you get so many different IRA accounts?’ And they’ll say to me, 'well, I had an advisor over here that rolled it over to an annuity. I had this person at the bank. Or I had this person over here who had a special product. Well, the problem with all this is there’s no coordination. And without proper coordination, there’s not proper management of risk or there’s not proper management of trying to maximize your return. And so I tell people all the time, ‘don’t waste your time with so many different IRA accounts.’ Let’s have one IRA account. Have it open architecture where you can put anything you want into it. Make sure we define the purpose and the risk tolerance and how we’re actually going to manage it. This way everything is working harmoniously together towards accomplishing your goal. For more answers, call or visit my website today.

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