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Another TIAA Cautionary Tale
(Formally HigherEd Retire Podcast)
In this episode, listen as Greg shares with you another case where a university participant incorrectly implemented a fairly popular strategy when it comes to TIAA Traditional.
Use this as a cautionary tale for you to not repeat the same pitfall. As Greg states over-and-over again, it's well worth your time to discuss anything dealing with TIAA Traditional with a professional that has experience in dealing with TIAA.
In this case, the participant did call TIAA for the transaction, but didn't necessarily ask about the strategy or if he was implementing it correctly. Remember, it's not TIAA rep's responsibility to acknowledge one-way-or another if you're implementing a certain strategy correctly. They are not your fiduciary advisor. They will simply give you information and execute the instructions you give them.
Unfortunately, in this case, the idea was great, but poor execution cost the participant a tax liability on $200,000. Don't let this be you....!
🎤 Podcast Episode - Why I'm a Hypocrite on TIAA Traditional
https://podcasts.captivate.fm/media/d...
📆 Jump on my calendar to see how we can improve your higher ed retirement plan
https://calendly.com/greg-safinancial...
email: [email protected]
913-521-2381
Disclosure S&A Financial Services, Inc. is a registered investment advisor. Content presented is for informational purposes only and should not be considered as investment advice or as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Always consult with your tax advisor or attorney regarding your specific situation.
View all episodes
By Greg Shepard
4.5
66 ratings
(Formally HigherEd Retire Podcast)
In this episode, listen as Greg shares with you another case where a university participant incorrectly implemented a fairly popular strategy when it comes to TIAA Traditional.
Use this as a cautionary tale for you to not repeat the same pitfall. As Greg states over-and-over again, it's well worth your time to discuss anything dealing with TIAA Traditional with a professional that has experience in dealing with TIAA.
In this case, the participant did call TIAA for the transaction, but didn't necessarily ask about the strategy or if he was implementing it correctly. Remember, it's not TIAA rep's responsibility to acknowledge one-way-or another if you're implementing a certain strategy correctly. They are not your fiduciary advisor. They will simply give you information and execute the instructions you give them.
Unfortunately, in this case, the idea was great, but poor execution cost the participant a tax liability on $200,000. Don't let this be you....!
🎤 Podcast Episode - Why I'm a Hypocrite on TIAA Traditional
https://podcasts.captivate.fm/media/d...
📆 Jump on my calendar to see how we can improve your higher ed retirement plan
https://calendly.com/greg-safinancial...
email: [email protected]
913-521-2381
Disclosure S&A Financial Services, Inc. is a registered investment advisor. Content presented is for informational purposes only and should not be considered as investment advice or as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Always consult with your tax advisor or attorney regarding your specific situation.