Learn the How and Why of IRA and 401k Rollovers
Your 401(k) or pension plan represents a critical piece of your financial future. And as you retire, you have three options:
- You can let the money sit in your employer’s plan (until age 70 1/2, when you must take at least minimum distributions).
- You can withdraw the money (and trigger substantial taxes).
- You can roll over and reinvest your retirement plan assets in an IRA or another vehicle that will allow the long-term tax-deferred growth of your savings.
If you guessed #3, you’re right.
The choice is obvious, and the procedure – usually called a 401(k) rollover – is easy. It takes some paperwork and permission of your company’s retirement plan administrator to permit a trustee-to-trustee transfer, which means you do not have any current tax liability for transferring the plan assets.
Don’t guess about the future – let me give you a plan.
I perform these rollovers regularly. If you’re ready to retire, call me at 818-354-4949. I’ll help you with the rollover, and help you choose suitable investment for your financial goals. You’ll learn more in my Free report on the Six Best & Worst IRA Rollover Decisions. To get you copy please fill out the following form.
Copyright © 2009 McNeely Financial Strategies, LLC | Securities offered through Raymond James Financial Services, Inc., Member FINRA / SIPC | Raymond James financial advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state. investors outside of the United States are subject to securities and lax regulations within their applicable jurisdictions that are not addressed on this site. Contact your local Raymond James office for information and availability.