When you leave a job, either to retire or to take a new job, and had participated in your company’s  401(k) retirement plan, you have multiple options available to you in regards to your 401(k) account. You could transfer your account into a new employer’s 401(k) plan, you could roll your account over to a traditional IRA, or you could simply leave your account where it is. Both 401(k)s and IRAs offer distinct features that could benefit you, depending on your individual situation. The decision to move your account from a former employer’s plan involves considering more than just fees and investment options, so it is important to evaluate all relevant factors when deciding what to do with your 401(k) account.

To assist you with this decision, we’ve designed a flowchart to help you weigh the pros and cons of the options available to you.

Should I Roll Over My Dormant Traditional 401(k)?

While checklists and flowcharts can help you identify different opportunities, we are always available to meet with you to discuss your financial needs and goals, and to help identify what the best opportunities are for you.

 

This content is provided by Windward Private Wealth Management Inc. (“Windward” or the “Firm”) for informational purposes only. Investing involves the risk of loss and investors should be prepared to bear potential losses. No portion of this blog is to be construed as a solicitation to buy or sell a security or the provision of personalized investment, tax or legal advice. Certain information contained in the individual blog posts will be derived from sources that Windward believes to be reliable; however, the Firm does not guarantee the accuracy or timeliness of such information and assumes no liability for any resulting damages.

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