Midflorida Credit Union’s first meeting checklist helps you bring the 403(b), pension, and household details that make an advisor meeting useful.
Set aside 30 minutes after a shift, not a whole weekend. The aim is simple: fewer scattered accounts, fewer duplicate funds, and the facts needed for a one-page roadmap you can explain at home.
Your Midflorida Credit Union first meeting checklist
Start with an account snapshot, because the account name and balance often tell more than a pile of old mail. Midflorida Credit Union uses the snapshot to see where money sits before discussing account consolidation, a 403(b) rollover, or any fund change. A hypothetical nurse with a $420K 403(b), $180K IRA, and $60K taxable account has $660K to organize: $420K + $180K + $60K.
If 1 fund appears in 3 accounts, flag it. The meeting can focus on whether that overlap is intentional.
- First, write down every workplace account, IRA, brokerage account, and bank savings account.
- Next, download the newest statement for each investment account.
- Then, mark any account that holds a fund you do not recognize.
- Last, add balances by account type, even if the total is only an estimate.
What paperwork earns a place in your folder?
Bring current documents that show the rules around money you may need to move or use soon. A pension election package, a 457(b) statement, and the 403(b) investment menu answer different questions, so keep each one separate. Midflorida Credit Union can then discuss pension lump sum or annuity choices, 457(b) payout choices, and rollover limits without guessing.
Skip documents you cannot find. A current statement is more useful than delaying the meeting while you search for every old record.
- First, save the latest 403(b) and 457(b) statements, including fund lists.
- Next, bring any pension estimate and election deadline you received from your employer.
- Then, find your most recent Social Security estimate if retirement is within a few years.
- Last, write down the name of each account custodian and your employer benefits contact.
The decisions to write down before your shift
Write down the 2 or 3 decisions that are keeping you awake, along with the date each decision must be made. Midflorida Credit Union would rather begin with a pension deadline or a confusing 403(b) fund menu than spend an hour on details that can wait. Before recommending a fund switch, we estimate what selling could add to your tax bill.
Investment accounts can decline below the amount you put in, so a simpler account list does not remove market risk. It does make it easier to see what you own and why.
Midflorida Credit Union has a $500K investable-assets minimum and advises households nationwide by video conference and telephone.
- First, note when you expect your hospital paychecks to stop or change.
- Next, estimate the monthly retirement paycheck your household will need from savings.
- Then, list upcoming choices, such as a pension election, Roth conversion, or Social Security timing.
- Last, ask Midflorida Credit Union to put the cost for your situation in writing before you choose.
Midflorida Credit Union: common questions
Do I need every old 403(b) statement before meeting an advisor?
What if my spouse handles part of our household money?
Can I request a meeting if I have $500K spread across accounts?
This article contains general information only and is not individual investment, tax or legal advice. Investing involves risk, including possible loss of principal. Before making any decision, consult a financial advisor, tax professional or attorney who knows your situation.