What is a 401k/IRA Rollover? - MWBoone Video Library

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What is a 401k/IRA Rollover?


Mwboone & Associates (Bellevue, WA), Certified Financial Planners, Wealth and Investment Management
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Your 401(k), or similar employer sponsored retirement savings plan, as among the hardest-working vehicles for amassing retirement savings. However, when left behind following a job change, it may no longer be working as hard as you need it to.


That’s because certain key benefits may no longer apply once you sever ties with your employer. Chief among them is that you are no longer eligible to make additional contributions or receive employer matching contributions. And what’s out of sight is also often out of mind. Sitting with your former employer, those important assets may not be getting the attention they deserve as an integral part of your overall retirement wealth.

Fortunately, there is a strategy to get your retirement plans back on track and working toward your goals. With an IRA rollover, you realize immediate benefits:

1) You gain a more complete view of your financial picture by consolidating 401k or other qualified retirement plans. Limitations, restrictions, and fees may apply.

2) It also may become easier to manage your entire investment portfolio, maintaining diversification and eliminating any gaps or overlap in your overall investment strategy.

3) Best of all, you are no longer limited by the investment choices selected by your former employer. And that can have a significant impact in pursuing your retirement goals. Some employer plans may limit investment choices to a handful of investment options and static model portfolios. A rollover provides access to a broader range of investments, including mutual funds, stocks, bonds, exchange-traded funds, U.S. Treasuries, and more, depending on your investment goals, preferences, time frame, and risk tolerance.

Working with a professional financial advisor to roll over your 401k assets also has significant benefits. Your financial advisor can provide the objective, unbiased advice you seek, because he or she does not sell or promote proprietary investment products. That ensures your best interests always come first as you develop a comprehensive investment strategy aligned with your goals and objectives.



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