NU Online News Service, Feb. 28, 2005, 8:09 p.m. EST
Most wealthy boomers plan to roll over their qualified retirement plans without the benefit of professional advice.[@@]
About 70% of wealthy boomers have rolled over their current 401(k) plans and other qualified retirement plans, according to a study by researchers at Bain & Company, New York. Most of those rollovers will take place without professional financial advice, meaning that boomers will shift $250 billion into individual retirement accounts without professional counseling, the researchers report.