"I’ve got $250,000 in my retirement plan. What should I do with it?"
Options, options, options … There are many misconceptions about what must be done with a 401(k) when someone leaves a company. Some people think they have to cash out their 401(k) upon leaving a job. Others think they must “roll it over” into a new 401(k). Still others believe that they must leave the 401(k) where it is. None of these are true … and none are false. These aren’t “musts”, they are options. The big question is, which option is the right option for YOU?
These guides are designed as a tool to help you make well informed decisions about how to handle your IRA or 401k and avoid some common distribution mistakes. However, nothing can replace profession advice. If you’re unsure which choice is best for you, or if you’d like to learn more about your options, I would recommend speaking with a CERTIFIED FINANCIAL PLANNERTM Professions. Additionally, you may want to consider working with a tax professional if you own company stock in your previous 401(k). You’re likely to want some assistance in sorting through the IRS rules that may apply.
Helping You Avoid IRA Distribution Mistakes
Six Best & Worst IRA Rollover Decisions