Why Consider a 401(k) Rollover?

There are several reasons why you might want to roll over your 401(k):

• Consolidation of Accounts- If you have multiple 401(k) accounts from previous employers, rolling them into a single IRA or new 401(k) can simplify your financial management and make it easier to track your retirement savings.

• Investment Flexibility- Rolling over to an IRA often provides a wider range of investment options compared to a traditional 401(k) plan. This flexibility allows you to tailor your investment strategy to better align with your financial goals.

• Tax Advantages- By rolling over your 401(k) into an IRA or another qualified plan, you can maintain the tax-deferred status of your retirement savings. This means you won’t owe taxes on the funds until you withdraw them in retirement.

• Avoiding Penalties- If you leave your job and do not roll over your 401(k), you may face penalties or taxes if you withdraw the funds. A rollover allows you to avoid these penalties while keeping your retirement savings intact.