Anne Tergesen
speaker
4,485 appearances
83 recordings
1 series
first heard Jul 2017
last heard Feb 2025
Anne Tergesen’s voice in public audio — every appearance, attributed to the second.
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Appearances
And it's not.
It's going to stay in cash.
Right.
It's a different situation.
The fiduciary there is the account owner.
The account owner is supposed to make the investment decisions.
But there is no entity on the IRA side that has that legal authority to auto enroll you other than you yourself.
She talked about a client of hers who, before they hired her, they rolled over a pretty large 401k to an IRA.
And they didn't realize it, but they were sitting in cash in that account.
Well, in 2020, if you think back on it, the returns on cash were incredibly low, not even 1%, right?
So this money, a very large sum of money, these people are getting ready to retire.
It's sitting in cash.
And then they hired her, but they had lost out on a full year's worth of stock market gains.
And that happened to have been a year that the stock market did incredibly well.
So I think it was very costly for them.
Yeah, they missed out on that.
Yeah.
So unfortunately, I mean, you know, one thing to point out here is that the cost of sitting in cash is not nearly as high as it used to be.
I mean, now with money markets.
around 5% in terms of the interest that they pay.
Showing 301–320 of 4,485 · page 16 of 225
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