Choosing to rollover 401K funds is a big decision. These rollovers are nothing more than ‘transfers’ of your money that is in a 401K retirement plan that exists with your employer. Should you change jobs, then you have some options to consider about just what is going to be the best move for you to make with your investment. Do you roll it over into an IRA? Do you take it out in cash? Just what is going to be the wisest choice for you? The important thing is that you follow the 401k withdrawal rules.
You may choose to make a trustee to trustee transfer that will move your 401K from the place it resides now straight into an IRA account. When you choose this option, you get the benefit of not being held liable for any taxes. You also don’t have any type of limits on the amounts of cash that you can move. This can be a very important decision, because for the most part this type of move involves a very substantial amount of cash. Continue reading ‘401k Withdrawal Rules – Should You Rollover 401k Funds?’ »