Know the 401k Rollover Options Available to You

Recently switched jobs or retired? Congratulations! You now have an opportunity to take control of your retirement destiny by employing the 401k rollover process. A direct rollover from your 401k to IRA is usually the wisest decision, and when done correctly, has no negative tax implications.

Your 401k, 403b, pension and other retirement savings programs are among the most powerful benefits you will receive from your employer. In today’s marketplace employees rarely stick with one employer for their entire career. In fact, many of today’s workers will have more than 10 employers throughout their working years. Today’s transient workforce results in many “old” 401k and retirement accounts remaining in former employers’ plans.

Read through some pros and cons for three of the more common options 401k plan participants have when considering what to do with the retirement assets they’ve accumulated in their former employer’s retirement plan. If you have any questions, consult the FAQ.

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Debt Consolidation Loans – Most of this site is dedicated to assisting those with debt problems, and its goal is to get you to a point of financial stability. So what happens when you do get your personal finances on level ground? It is time to start thinking strategically about how you save your money. See below for a lot of helpful information on the management of your 401k.