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401k Rollovers and 403b Rollovers (5 options)
Manage episode 285430939 series 2880043
Innehåll tillhandahållet av Terry Martine. Allt poddinnehåll inklusive avsnitt, grafik och podcastbeskrivningar laddas upp och tillhandahålls direkt av Terry Martine eller deras podcastplattformspartner. Om du tror att någon använder ditt upphovsrättsskyddade verk utan din tillåtelse kan du följa processen som beskrivs här https://sv.player.fm/legal.
In this episode we explore your options to a 401k rollover or 403b rollover. There are 5 pro's and cons to a Rollover IRA. The main deciding factor is if you think there might be a circumstance that you need to take a loan on your 401k. Maybe your looking for a more diversified funds or stocks than your 401k provider offers. We'll cover the 5 options you have to transferring your money from an old employer.
Find us at Family Retirement Services, LLC. or call us at 800-377-4027
Here is a quick link to the IRS's website regarding Rollovers.
When you roll over a retirement plan distribution, you generally don’t pay tax on it until you withdraw it from the new plan. By rolling over, you’re saving for your future and your money continues to grow tax-deferred.
If you don’t roll over your payment, it will be taxable (other than qualified Roth distributions and any amounts already taxed) and you may also be subject to additional tax unless you’re eligible for one of the exceptions to the 10% additional tax on early distributions.
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