IRA & 401(k) Rollovers

How should I handle old IRAs and 401(k)s?

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When you change jobs or retire, there are four things you can do with the money in your employer-sponsored retirement plan:

  • Leave the money where it is
  • Take the cash (and pay income taxes and perhaps a 10% federal penalty tax if you are younger than age 59½ )
  • Transfer the money to another employer plan (if the plan allows)
  • Roll the money over into an IRA

Rolling over from one qualified plan to another qualified plan allows your money to continue growing tax-deferred until you receive distributions in retirement. We can help you determine if a rollover is the right move for you, and we can help find the best vehicle to help conserve and grow your rollover assets.

Fees and costs associated with IRA and 401(k) rollovers may be higher. Rollovers may result in the inability to use net unrealized appreciation. Certain exceptions to the 10 percent additional tax for premature distributions may not be available and surrender charges may apply for distributions from an annuity IRA.

Your financial professional is not permitted to offer, and no statement contained herein shall constitute, tax advice. Individuals are encouraged to consult with a qualified professional before making any decisions about their personal situation.

We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives.

Investment advisory services may be offered through Global Financial Private Capital LLC, an SEC Registered Investment Adviser, or Howard Bailey Securities LLC, a Registered Investment Adviser.