0:00 | If you’ve changed jobs or thinking about retiring you may be wondering what to do with your old 401(k). In this video we cover the potential pros/cons to consider when rolling over your 401(k) into a Roth IRA.

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0:55 | 1. Qualified withdrawals are tax-free
1:18 | 2. No income limits to qualify
1:24 | 3. Additional contributions allowed if you meet income limits
1:55 | 4. No penalties
2:09 | 5. No mandatory withdrawals at age 72
2:39 | 6. Wide range of investment choices
2:53 | 7. Fewer rules & greater control over assets
3:18 | 8. Opportunity to consolidate retirement accounts
3:32 | 9. Incentives from financial institutions or banks
4:08 | 10. Opportunity for better communication, service & value-add advantages

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4:27 | 1. Must pay taxes in the year of rollover
5:05 | 2. There is a five-year holding period
5:33 | 3. Loans not allowed
5:52 | 4. Creditor protection may be reduced

6:14 | 🙋 () ?
🗓️ | !

ClearPath Wealth Strategies, LLC
2600 Network Blvd. Suite 130
Frisco, TX 75034

6:49 | 🤣

🎬 !

1. Cash Out 401(k) 👉
2. Leaving Your 401k behind 👉
3. Rollover into new 401k 👉
4. Rollover to an IRA 👉

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Your retirement planning Options Flyer 👉

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You can make only one indirect (i.e., 60-day) IRA rollover in any 12-month period, regardless of the number or types of IRAs you own (see IRS Announcement 2014-32); however, you may continue to make an unlimited number of direct and trustee-to-trustee transfers (transfers directly between IRAs) as well as unlimited rollovers from traditional IRAs to Roth IRAs (conversions).

This material is distributed for informational purposes only and is not intended to constitute the giving of advice or the making of any recommendation to purchase a product.

NYLIFE Securities LLC and its affiliates, their agents and employees may not provide legal, tax or accounting advice. Individuals should consult with their own professional advisors before implementing any planning strategies.

Trevor Houston, Mark Elder & Holly Gorton are Registered Representatives of NYLIFE Securities LLC (member FINRA/SIPC), a Licensed Insurance Agency and a New York Life Company.

ClearPath Wealth Strategies LLC is not owned or operated by NYLIFE Securities LLC or its affiliates.

ClearPath Wealth Strategies, LLC
2600 Network Blvd. Suite 130
Frisco, TX 75034

1931746
#rollovertips #retirement #IRA…(read more)

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