In this podcast episode Mat and Mark discuss how to transfer or rollover your IRA, 401(K), Coverdell, and HSA. Learn how to unlock your retirement account and invest in what you know with a Self-Directed IRA or 401(k).

Also, check out: Can I rollover or transfer my existing retirement account to a self-directed IRA?

Visit www.directedira.com/podcast for more episodes.

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LEARN MORE ABOUT: IRA Accounts

INVESTING IN A GOLD IRA: Gold IRA Account

INVESTING IN A SILVER IRA: Silver IRA Account

REVEALED: Best Gold Backed IRA

One of the most important financial decisions that individuals make is how to manage their retirement savings. Two popular options are Individual Retirement Accounts (IRA) and 401(k) plans offered by employers. However, circumstances may arise when someone wants to move their retirement savings around, either from one company’s plan to another, or from a 401(k) to an IRA.

In a recent episode of The Money Guy Show, Brian Preston and Bo Hanson discussed the various options for moving retirement savings. They outlined the steps that individuals need to follow to ensure a smooth transition from one account to another.

The first step is to understand the reasons why someone would want to move their retirement savings around. For example, if someone is changing jobs, they may want to roll over their 401(k) into an IRA, as it offers more investment options and control. Alternatively, if someone works for a company that has high fees on their 401(k) plan, they may want to move their money to a plan with lower fees.

The next step is to determine where to move the retirement savings. For instance, if someone decides to roll over their 401(k) into an IRA, they need to do some research to find a reputable financial institution that offers the account types and investment options they’re interested in. Alternatively, they could consider a 401(k) plan with a new employer that aligns with their investment goals and preferences.

Once the destination for the retirement savings is determined, individuals should start the process of moving the money. For example, if it’s a direct rollover from a 401(k) to an IRA or from one 401(k) plan to another, individuals need to fill out the necessary paperwork and submit it to the financial institution.

Another step that individuals should consider is speaking with a financial advisor to help them with the process. Financial planners can provide advice on how to choose the right investment options, as well as the tax implications of the transfer.

Lastly, individuals should monitor the progress of the transfer and ensure that their retirement savings are safe and secure from start to finish.

In conclusion, moving retirement savings around requires careful planning and research. By understanding why you want to move your retirement savings and where to move it to, you can take the necessary steps to make the transition as smooth and seamless as possible. With the guidance of a financial advisor, individuals can make educated decisions and ensure they stay on track to achieving their retirement goals.