July 12, 2024

How To Protect Your Retirement Account in 2023

Feeling concerned with the current economy and want to protect your hard-earned savings? There are several things you can do to help protect your retirement account. Bill Tisdale shares his story on the company that changed his life for the better. 

68-year-old Bill Tisdale retired in November of 2022 after working for Kimberly Clark for 30 years. Bill was worried about the safety of his retirement account as he did not receive proper guidance on how to protect his retirement account.

During Bill’s career, he witnessed multiple stock market crashes that led to him losing anywhere between 40-60% of his retirement savings.

At that time, he was a full-time employee, and although it took him nearly a decade to recover, he was able to recover from his losses.With the uncertainty of the Biden Administration, the economy, and the stock market, Bill wanted to be prepared and make sure his retirement account was safe. Since he is now retired and can no longer go back into the workforce due to health complications, he cannot afford to take a loss.

Bill took matters into his own hands and started researching what options he has available to protect his retirement account. That’s when he shared that he had an opportunity to speak with an expert in this field who works for Wilshire Capital.The Wilshire Capital expert addresses specific questions to Bill about his journey to retirement.

Below, he offers various tips that could one day help you protect your retirement account.

Question #1: What made you decide to convert your 401K with Fidelity, into a Gold/Silver Precious Metals IRA?

Bill explains how he was concerned about the safety of his retirement account. He says, “I do not trust the Biden Administration, inflation is out of control, and I believe the stock market will crash this year. I was working for Kimberly Clark for 30 years; I had a 401K account that I contributed to all my 30 years working there. Now that I am retired, I want to be more cautious about my retirement account, since I can no longer work.” There is no faith in the Biden Administration, and there’s a lot of uncertainty when it comes to the stock market and retirement accounts. 

Question #2: How much money did you lose in the past and how much?

Tisdale explains how he lost a lot of money back in 2008, almost half of his retirement savings. “At that time, I was working and still contributing to my 401K. It took nearly 10 years of hard work to build my account back up to where it was, which I’m very lucky and grateful for.” During those 10 years, he could have been making money rather than playing catch up, which led him to convert his 401K with Fidelity into a Gold/Silver Precious Metals IRA. He and his family invested $145,000.

Question #3: What made you decide to work at Wilshire Capital as opposed to the many other big companies such as JP Morgan Chase, Edward Jones, or Charles Schwab?

Bill discusses how the more prominent companies were not very compassionate towards them and reacted as though they did not care about their future and retirement goals. “It felt like they were just trying to sell us investment products the whole time during our meetings. At that point, my wife’s brother recommended we contact the same company that he worked with, which was Wilshire Capital.”

Bill goes on to explain how the process with Wilshire Capital was utterly different from the previous businesses. The company was very thorough with the entire process and willing to go over Bill and his family’s goals for retirement.

“Their back-end processing team helped us roll our funds over from our 401 K with Fidelity, which is tax-free, penalty-free, and fee-free. It took only 5 business days for our funds to get rolled over into our new account. What made us the happiest was that Wilshire Capital kept in touch with us throughout the entire process. They were genuinely by our side the whole time until our funds landed into our new account and that’s what made my wife and I feel so comfortable. We have since recommended many of our family and friends to Wilshire Capital as well, and we will continue to do so. We are very thankful for their help.”

Looking to learn more about your retirement savings? Check out the link below to learn more about how Wilshire Capital can help you.

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