Why You SHOULD Rollover Your 401k Into An IRA || 401k & IRA retirement planning

In this video, I want to talk about rolling over your 401k to an IRA Rollover and if that makes sense for your retirement planning.

I want to look at the pro’s to rolling over a 401k. When you should rollover your 401k to an IRA?

Why you SHOULD rollover your 401k to an IRA
1. More investment choices in IRA over 401k
2. Lower investment fees
3. Convert IRA to Roth IRA (Roth IRA Conversion)
4. Consolidation from multiple 401k’s to single Traditional IRA

If you have an old 401k with a previous employer you have 4 options:
1. Leave the 401k at the old 401k plan
2. Roll the 401k to your new 401k
3. Cash out your 401k
4. Roll your 401k over to an IRA

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Pearl Wealth Group
Drew Blackston, CRC® & RFC®
Office: 813-807-5060
Info@pearlwealthgroup.com

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When it comes to retirement planning, 401k and IRA accounts are two of the most popular options. Both accounts offer tax advantages and can be used to save for retirement. The main difference between the two is that 401k plans are employer-sponsored, while IRAs are individual accounts.

For many people, the decision to rollover their 401k into an IRA is an easy one. Here are some of the reasons why you should consider rolling over your 401k into an IRA:

1. More Investment Options

One of the main advantages of rolling over your 401k into an IRA is that you have more investment options. With an IRA, you have access to a much wider range of investments, including stocks, bonds, mutual funds, ETFs, and more. This gives you the opportunity to diversify your portfolio and create a more balanced retirement plan.

2. Lower Fees

Another benefit of rolling over your 401k into an IRA is that you may be able to reduce your fees. Many 401k plans come with high administrative and management fees, which can eat away at your savings. With an IRA, you may be able to find lower-cost options and save money in the long run.

3. More Control

When you rollover your 401k into an IRA, you have more control over your retirement plan. With an IRA, you can make changes to your investments and contributions whenever you want. This gives you the flexibility to adjust your plan as your needs and goals change.

4. Tax Benefits

Rolling over your 401k into an IRA can also provide tax benefits. Depending on your situation, you may be able to take advantage of tax-deferred growth or even pay taxes on a portion of your contributions. This can help you maximize your savings and reduce your tax burden.

Rolling over your 401k into an IRA can be a great way to save for retirement. With more investment options, lower fees, more control, and potential tax benefits, an IRA can be a smart choice for many people. If you’re considering rolling over your 401k, be sure to do your research and speak to a financial advisor to make sure it’s the right decision for you.