At retirement, some people receive a check from their employer for their 401(k) balance and write a check for deposit into their IRA before the 60-day deadline, just like they were told, to avoid any problems with the IRS. They’ve met the deadline. The money is now in their IRA. They’re clear and the rollover is complete…. or is it?
Here’s what people get wrong when making rollover decisions.
Rollover advice isn’t always straightforward – it’s often conflicted. There are issues you should address before you act.
Jim Lorenzen, CFP®, AIF® Getting ready to retire? Planning to roll your 401(k) into your own IRA? It will pay to do your homework first.
Jim Lorenzen, CFP®, AIF® Getting ready to pull the retirement cord? In a previous post, I had talked about pension options – worth reviewing if that’s
Jim Lorenzen, CFP®, AIF® According to Cerulli Associates, rollovers from 401(k)s and other retirement plans will cause IRA assets to reach $12 trillion by 2020,
When it comes to building a solid financial future, finding the right investment vehicle can be a daunting task. Comparisons are often made between an IUL (Indexed Universal Life Insurance) and a Roth IRA (Individual Retirement Account) as a choice between getting life insurance or investing in the stock market. While an IUL can give the appearance of doing both; however that’s not really the case – and, often, this can lead to unrealistic expectations.
Given the size of our growing national debt it’s no wonder so many people believe taxes will be higher in the future. We have an ageing population and there are a number of factors at work: There’s the annual deficit plus money needed to fund Medicare and Social Security, just to mention a few.
