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The IRA Rollover: 10 Tips to making a cound decision

1. Evaluate your transfer options. You generally have four choices; keep it in your former employers plan, transfer to your new employers plan, roll it over to an IRA, or cash it out. There are pros and cons to each option.

2. Minimize taxes by rolling Roth to Roth and traditional to traditional.

3. Think twice before you do an indirect rollove. With direct rollovers you never handle the money and that could save you money in the long run.

4. Be wary of "Free" claims. Part of the process may be free, but eventually you will be charged, so pay attention.

5. Realize that conflicts of interest exist. It may be in the financial professionals best interest to recommend a rollover, but is it best for you?

6. Compare investment options and other services that are offered for your 401(k) vs what is offered for an IRA.

7. Understand fees and expenses. Both 401(k)'s and IRA's will have expenses, compare these before making a decision.

8. Engage in a thoughtful discussion with your financial or tax professional. Ask questions and make sure you understand before making a decision.

9. Age matters. What age you are when you leave your job can be a big factor in determining the best option for you.

10. Assess the tax implications of appreciated company stock.

For more information visit FINRA's website to view the original article.

If you would like to discuss if a Rollover is right for you please click Contact Us above, or call us at 405-728-1649 or 888-488-4625.