4 Advantages to IRA Rollovers

There are several factors to consider when deciding whether or not to rollover your old 401(k) account into an IRA.  Here are 4 of the more common advantages:

1. Control

Whether you rollover your assets and decide to self-manage the account or hire an investment advisor to manage it on your behalf, you’ll have more control over the assets than you would if you leave them in the 401(k).

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2. Investment Options

401(k) plans have a limited selection of investment options.  When you move your assets away from an old employer’s plan, you’ll gain access to a much broader range of investments.  This is especially important if your old 401(k) provider only offers high cost investment options.

3. Fees

401(k) plans are notorious for having high fees and expenses.  Taking your assets with you will typically allow you to either lower your expenses or increase the level of service you’re receiving.  If you do your research, and work with the right type of advisor, you might be able to accomplish both.

4. Simplicity

Many of us will work for several different companies throughout our careers, leaving a trail of abandoned 401(k)s in the wake.  Combining these accounts into a single Rollover IRA can help to simplify the process of monitoring the assets over time.  It will also allow you to have a more consistent investment plan.

Do you need help rolling over an old 401(k)?

Give us a call today.

We’ll help to make the process as easy as possible.

2017-08-22T14:05:07+00:00

About the Author:

Tim Plachta, CFP® owns and operates Reliant Wealth Management and Reliant Consulting Partners.  He works primarily with small business owners to help them increase profit, reduce their workload (so they can relax more), and invest enough of their earnings to achieve financial independence.