I’m Retiring Next Year. What Should I Do With My 401(k)?
If you’re retiring next year, your 401(k) may soon become part of your retirement paycheck. Learn the key factors to consider before deciding whether to leave your money in the plan, roll it into an IRA, or use a combination of both.
What Should I Do With My 401(k) From My Old Company?
When you leave a job, your old 401(k) doesn’t automatically follow you. You can leave it in the plan, roll it to your new employer’s 401(k), move it to an IRA, or cash it out. Each choice has different tax, investment, and planning implications.
Company Stock In Your 401(k)? Don’t Forget To Elect NUA
If you’re retiring or leaving your job and have company stock in your 401(k), understanding NUA (Net Unrealized Appreciation) could save you thousands in taxes. Many miss this valuable opportunity by rolling everything into an IRA without considering the tax implications. Our latest article breaks down how NUA works, common tax mistakes, and when choosing NUA makes sense. Learn how factors like your age, retirement timeline, and stock performance play a role. Don’t overlook this strategy if your company stock has grown significantly in value—it could make a big difference in your retirement savings.
Leaving Your Job? What Should You Do With Your 401(k)?
When you separate service from an employer, you have to make decisions with regard to your 401K plan. It’s important to understand the pros and cons of each option while also understanding that the optimal solution often varies from person to person based on their financial situation and objectives. The four primary options are:
1) Leave it in the existing 401(k) plan
2) Rollover to an IRA
3) Rollover to your new employer’s 401(k) plan
4) Cash Distribution
