If you’re an investor with a defined contribution plan, such as a 401(k), and you change jobs often, you’ll have to decide what to do with old accounts.
There are four basic options:
One – You can cash out, which could be costly as taxes will eat up a large portion of the account.
Two – You could leave your savings in the old 401(k) account, but flexibility with investment options may be diminished.
Three, if you’re working for a new company with a plan that you like, you could roll your savings into a new 401(k) account.
Or four, you could roll it into an IRA, which would allow you more flexibility than leaving it in the old account, and avoids the tax hit of a cash out.
Let us run an analysis to help you make the right decision regarding your retirement plan.
Call us at (920) 202-3765 or visit us here at www.WealthAbundance.com
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