401k Retirement Planning

Are you in the midst of one of these life events?

• Changing jobs
• Moving to a new employer
• Taking time off work for awhile
• Staying home to raise your children or to take care of aging family members
• Your employer has been bought out and you continue to work there?

All of these events result in you having to decide what to do with your retirement savings from your former employer. It’s important to choose the option that best suits your financial needs and goals. 

There are typically four options available to you:

1. Cash out the account
2. Leave the money in the former employer’s plan, if permitted
3. Roll over the assets to a new employer’s plan, if one is available
4. Roll over the assets to an IRA

They are all fairly straightforward but there are many factors to consider. Please read this  whitepaper on determining what to do with your 401k from your prior employer that summarizes the four options, the information you will want to gather and the factors to consider in making your decision. The chart below highlights the options and how important it is to review each factor.

With so much to consider, we encourage to you review the whitepaper referenced above and schedule a  no cost nor obligation meeting with us to help you review the different options and how they fit into your overall financial and retirement plan.