So you’re changing jobs or retiring and want to know what you can do with your retirement account, right? Well, you have four routes you can go. Tom and Brendan discuss the options available to investors when they leave a job or retire in this video. Make sure to speak with your investment advisor before making any big financial decisions. You can utilize this video to hear about the choices you’ll have for your retirement account when you change jobs.
The first option is to take the money and run. This is probably the least financially responsible option of the bunch, and you should watch the video to learn about the penalties and taxes you’ll incur by choosing this option. Another option for your retirement account when you change jobs is to leave it alone. If you like the investment choices and structure of the plan, then you can keep the money where it is.
The final two options both involve rolling the old account into a new one. If you’ll be changing jobs and you like the retirement plan at your new place of employment, find out if you can roll your old retirement account into a new one. The last option for your retirement account when you change jobs is to roll it into an IRA. Rolling the money into an IRA will be a tax-free move, and it also means you’ll have increased investment options.
Learn more about each of these options by watching the video. As always, consider all of your options and speak with your investment advisor before making any decisions!
