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When is a 401K Rollover the Right Move?

Life changes happen. Is your portfolio still working in your favor? If you are facing a job change or planning for retirement, it might be time to consider a 401K rollover. But how do you know a rollover is the best option for you at this time? All you want to know is how to protect your money and make sure it is doing the earning for you. The experts at Dewitt & Dunn are here to help.

Whether you are retiring or switching jobs, you have 401K rollover options, such as:

  • Keeping the funds right where they are until you are ready to use them.
  • Rolling your funds into a new employer’s plan if you are moving to a new job.
  • Rolling them into an annuity or IRA to change up your portfolio mix.
  • A 401K rollover into a Fixed Index Annuity. These annuities offer a guaranteed lifetime income plus a death benefit, allowing you to participate in stock market gains without ever putting your principal at risk.

Of course, If none of these options feel like the right choice, you always have the choice to liquidate your 401K, but you may have to pay penalties if you do. Before initiating a 401K rollover (or pensions rollover), you must be at least 59 ½ years old or have left your place of employment. If you have a pension fund, check with your company’s HR department, as some employers require you to wait until you have left the company, regardless of your age.

Are you ready to initiate your 401K rollover? Let DeWitt & Dunn help. We will evaluate all options and give you the confidence to make an educated decision.

If you live near Dallas and need a 401K rollover, do not attempt it on your own. Our financial experts are available to walk you through the process, ensure it is completed correctly and protect your money.

Contact us today to understand your options and get a 401K rollover plan set in place.

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