Should I Roll Over My 401(k)?

401(k) rollovers are non-taxable events and involve rolling your 401(k) assets into an Individual Investment Account (IRA). Need help navigating your choices and the complexities around deciding whether to roll over your 401(k) assets?

In this video, we discuss key considerations to help you make an informed decision:


1. Costs: Compare the fees associated with your 401(k) and a potential IRA. Sometimes, it’s cheaper to roll over your 401(k) because the fees associated with 401(k) investments can be higher than those associated with an IRA depending on the investment options available by your employer’s plan.
2. Convenience: Consolidating your 401(k) assets into one account, like an IRA, ensures you’re not leaving any money behind and collectively investing your retirement assets rather than employing different strategies for your various 401(k) assets and any other retirement savings.
3. Customization: IRAs often offer a wider array of investment options than 401(k)s, including a broader choice of fixed-income options.  Additionally, when withdrawing assets from an IRA, you can choose what assets are sold to fund your withdrawal, whereas most 401(k) plans sell assets on a pro-rata basis. Any decision to roll over your 401(k) assets should be based on your individual circumstances.  Other things to take into consideration that could impact your decision are listed below:
  • Are you between the ages 55 and 59.5, and could you potentially need to access the funds in your 401(k)?
  • Are you planning on doing any Roth Conversions?
  • Are you planning to delay taking Social Security?
Remember, every financial decision should align with your overall financial goals. We’re here to help guide you and make sure any decision regarding your 401(k) aligns with your holistic financial plan.

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