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Rollover Retirement Plan: A Guide to Moving Your Retirement Savings

You can move your retirement assets from one account to another using a rollover retirement plan. This may come in handy if you switch employment or want to combine your retirement accounts. The fundamentals of rollover retirement plans, such as what they are, how they operate, and the advantages of adopting them, will be covered. <br><br>Visit: https://www.kerryjohnsonfinancial.com/resource-center/retirement/whats-so-great-about-a-rollover

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Rollover Retirement Plan: A Guide to Moving Your Retirement Savings

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  1. Rollover Retirement Plan: A Guide to Moving Your Retirement Savings What is a 401(k) Rollover? When you instruct the transfer of the funds in your 401(k) plan to another 401(k) plan or an IRA, this is known as a 401(k) rollover. You have 60 days, according to the IRS, from the date you get a dividend from an IRA or rollover retirement plan, to roll it over to another plan or IRA.

  2. Decide where you want the money to go The best sites to roll over your 401(k) have been examined by Kerry Johnson Financial, including brokerage alternatives for those who want to do it themselves and robo-advisor options for those who want a professional to create their portfolio. Advantages of Rolling Over your 401(k) You can Consolidate your 401(k) Accounts You can have numerous 401(k) accounts spread out, particularly if you switch employment frequently. It could be more difficult to actively make judgements if you have multiple accounts. You might be able to handle your retirement money more carefully if they are all in one location. You’ll have more Investment Choices in an IRA You are limited to the 401(k) plan's available account and investment alternatives when using it. You may have a wider range of options for investments with an IRA. You might be able to invest in specific stocks, bonds, or other instruments in an IRA that isn't necessarily available in your 401(k).

  3. There are good reasons why some people decide to transfer these funds to an Individual Retirement Account. In the United States, IRAs hold around 34% of all retirement assets, and 59% of traditional IRA owners used a rollover from an employer- sponsored retirement plan to fund all or a portion of their IRA. Rollovers can help you stay organized and keep things under control. Throughout their careers, some people move professions multiple times, leaving a trail of employer-sponsored retirement plans in their wake. 919-961-1442 6532 Brack Penny Road Raleigh, NC 27603 kjohnson@woodburyfinancial.net https://www.kerryjohnsonfinancial.com/

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