401k Rollover Options – Avoid Cash Distributions!

If your employer offers a retirement plan as part of their benefits package, this will be the basis for your 401k rollover options. However, if your new employer offers a Simple IRA instead of a 401k rollover plan, your transfer options will be more limited. Continue reading

When to Choose Different 401k Rollover Options

While there are many 401k rollover options for you to choose from, there’s one thing you’ll want to keep in mind before performing any of the viable options mentioned here below – how old are you?  As you might expect, your 401k rollover options are very different if you’re under the minimum retirement age of 59 ½ years old, as you may be subject to additional taxes and penalties if you perform certain types of rollovers at this age. Other rollover options can and will apply if you’re between the ages of 59 ½ and 70. Continue reading

Protect Your Retirement Savings with Different 401k Rollover Options

When you initiate a 401k rollover, be aware that there are two different rollover options for you to choose from – direct or indirect rollover. The former offers greater protection for your retirement savings, while the latter may expose you to a potential tax burden. This isn’t to say that indirect rollover options are always a bad choice – just which the circumstances under which they’re the best choice are few and far between. Continue reading

What are the Contribution Limits for Different 401k Rollover Options?

One of the advantages of having a 401k account is that you can save for your retirement using pretax dollars and defer paying taxes options until the money is withdrawn, when it’s likely that you’ll owe less in taxes than you would now. Continue reading