On the Money: DOL Fiduciary Rule and Helping Adult Children

On this episode of “On the Money,” Paul Ruedi, Ryan Repko, and Dr. Fred Giertz discuss the new Department of Labor fiduciary rules regarding 401(k) rollovers and the dynamics of giving money to an adult child in need.

(1:48) Department of Labor 401(k) rollover fiduciary rule

(5:02) The definition of fiduciary

(8:57) 401(k) rollover options

(18:14) Switching from active to passive management

(20:33) Lump sum distribution from 401(k)

(20:15) Rolling over to an IRA

(24:24) Household balance sheets

(36:22) Spending on gifts and donations increases with age

(39:05) How to give to adult children

(48:40) Keeping things fair between children