Questions on Rolling your 401K?


If you’ve been contributing to a 401K (or other defined benefit plan) at your place of employment, we applaud you for taking steps towards securing your retirement!  Many companies offer a match on a portion of your contributions…which is actually FREE MONEY to you.

Be careful though, as 401K investments are typically subject to the ups and downs of the market.  Also, many of these plans have fees that can eat away at your balance, even in negative years.

At Wealth Planners, we can assist you with a monitoring tool that will track the balance of your 401k and provide you with notifications when your portfolio is up, but more importantly when heading south.  This tool is called AssetLock Personal, and it can make a substantial difference in how you monitor your 401k assets, potentially helping you to avoid a significant market correction or crash.

As you get closer to retirement you may want to consider rolling all, or a portion of your 401K into an IRA to give yourself more flexibility on how your money is invested.  Rules vary from company to company on rollovers, but generally your plan administrator may allow you to move your funds, or a portion of your funds, out of the 401K if you are over the age of 59 ½, even if you are still working and contributing.  Certainly, if you have terminated employment, you will have the option of rolling the 401K.

Some plan administrators require their own paperwork, and others will accept transfer requests from another financial institution.  Each company is different.

When you work with a Wealth Planner advisor to roll over your 401K, 403B, 457, or Thrift Savings Plan, we will assist you with all of the necessary paperwork and help to simplify the process.  We help our clients with hundreds of rollovers each year, and we would appreciate the opportunity to assist you as well.

Contact us today if you’d like a complimentary review of your current 401k situation.  At the minimum, we can give you access to AssetLock Personal to help you monitor your retirement assets.


VIEW OUR OTHER SERVICES:

TAX-FREE RETIREMENT

TRADITIONAL IRA TO A ROTH IRA CONVERSION

IRA STRETCHING

P4 ESTATE PLANNING