➡️ How to Rollover Your 401(k) to Vanguard ➡️

Have you ever changed jobs and now need to figure out what to do with your existing 401(k) or 403(b) account? That’s the situation I’m in now and I wanted to make this video about rolling over a retirement account when you change jobs.

I’ll share my experience of rolling over my 401(k), 403(b) and Roth 403(b) accounts and why I choose Vanguard as the place to move all of my retirement money.

Thanks for watching!

#vanguard #retirement #rollover

⏰ Timestamps ⏰:
0:00 – Intro
1:11 – 401(k) Overview
1:35 – Changing Jobs
2:42 – 403(b) and Roth 403(b)
4:04 – Rollover to Vanguard
5:19 – Why Vanguard?
6:10 – Final Thoughts

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How to Rollover Your 401(k) to Vanguard

Are you considering rolling over your 401(k) account to Vanguard? Moving your retirement savings to a reputable investment company like Vanguard can offer many benefits, including lower fees, access to a wide range of investment options, and excellent customer service. This article will guide you through the process of rolling over your 401(k) to Vanguard, ensuring a smooth transition for your retirement assets.

1. Understand your options:
Before initiating a rollover, it is crucial to understand the available options. Typically, you have four choices: keeping your money in your former employer’s plan, moving it to your new employer’s plan, rolling it over into an Individual retirement account (IRA), or transferring it to Vanguard. Evaluate the benefits and drawbacks of each option and determine whether Vanguard aligns with your investment goals.

2. Check if your plan allows rollovers:
Contact your former employer’s human resources department or retirement plan administrator to verify if your 401(k) plan permits rollovers. Some plans may not allow rollovers until you reach a certain age or meet specific criteria. It is essential to gather this information before proceeding.

3. Open an account with Vanguard:
If you have decided to rollover your 401(k) to Vanguard, the next step is to open an account with them. Vanguard offers various types of retirement accounts, such as Traditional IRAs and Roth IRAs, to suit different needs. Consider your circumstances and choose the account type that best aligns with your retirement objectives.

4. Obtain necessary paperwork:
To initiate the rollover, contact your previous employer’s retirement plan administrator and request the necessary rollover paperwork. They will provide you with the required forms, which may include a distribution request, rollover acceptance form, or distribution check request. Take time to carefully read and understand the paperwork, and fill it out accurately.

5. Direct rollover or indirect rollover:
You have two options for completing the rollover: direct and indirect. In a direct rollover, the funds in your 401(k) are directly transferred from your old plan to Vanguard, ensuring that you avoid any potential tax consequences. In contrast, an indirect rollover involves receiving the funds from your old plan and depositing them into your Vanguard account within 60 days. However, with an indirect rollover, you risk incurring taxes and penalties if you fail to deposit the funds within the specified timeframe.

6. Coordinate with your plan administrator:
Once you have completed the necessary paperwork, submit it to your employer’s retirement plan administrator. They will then handle the rollover process, including transferring the funds to your new Vanguard account. Maintain communication with both your employer’s administrator and Vanguard during this process to ensure a seamless transition.

7. Review and adjust your investments:
After the rollover is complete, it is essential to review and adjust your investments according to your risk tolerance and retirement goals. Vanguard provides a wide range of investment options, including mutual funds, exchange-traded funds (ETFs), and target-date funds. Take advantage of Vanguard’s resources and tools to ensure your investment portfolio remains aligned with your long-term objectives.

By following these steps, you can successfully rollover your 401(k) to Vanguard. Remember to educate yourself about Vanguard’s offerings, consult with financial professionals if needed, and keep track of any deadlines or documentation necessary for the process. Moving your retirement savings to Vanguard can be an excellent choice for securing your financial future.