We are your 401K & IRA Rollovers experts

We specialize in retirement planning

Ask us about our complementary Breakthrough Retirement Financial Lab Session

401K & IRA Rollovers

What should I do with my old 401(k)?

 

You have three options:

Option 1: Do nothing/leave your money in your previous employer’s 401(k).

Option 2: Roll over your old 401(k) to your new employer’s 401(k).

Option 3: Roll over your old 401(k) into an IRA.

 

Cashing out your 401(k) should be your last option because of taxes and penalties. If you are under 59 ½, there is a 10% penalty and all of the income withdrawn from your traditional retirement plan is taxable at your ordinary income tax rate regardless of your age.

For most people, rolling their company retirement plan to an IRA makes sense, however there are reasons to leave your money in your retirement plan.

IRA rules are complex, and it is very important you know the rules and the pros and cons of your options. Send us an email or schedule a 30-minute call and we’ll be happy to answer your questions.

 

401k Quick Start Guide

One of the many great things about a 401K retirement savings plan is that your assets are often portable when you leave a job. But what should you do with them?

 

Taking Withdrawals from a 401k

Putting as much as you can afford into your 401k makes sound fiscal sense when it comes to planning for retirement. But once money goes into a 401(k), it is difficult to withdraw it without paying taxes on the withdrawal amounts.

 

How to roll over your 401k

You have spent years working and saving. Now it is time to enjoy your nest egg.

LEARN

Reasons to Roll Over Your 401(k) to an IRA 

LEARN

Reasons to Leave Assets in the Company Plan

Life is Good. Retirement is Better When You Plan & Hire the Right Advisor.