Rollover IRA / Roth IRA Rollover / 403b / 401k / Pension Plan / 457
What is a Rollover IRA.
A rollover IRA is an account that will allow you to move funds from an old employer-sponsored retirement plan like a 401k, 403b, 457, pension plan or any other type of retirement plan into a Rollover IRA. By executing an IRA rollover, you can continue the tax-deferred treatment you get with your retirement plan, and you don't have to pay taxes or early withdrawal penalties at the time that the funds are transferred into the IRA rollover.
What is a Roth IRA Rollover?
A Roth IRA Rollover allows you to transfer your Roth 401k to a Roth IRA Rollover without paying any taxes. A Roth IRA is a type of retirement account that offers tax-free growth and tax free withdrawals in retirement. Roth IRA rules allow you to withdraw your assets without paying any taxes if you have owned the Roth IRA for 5 years or are over 59 1/2 years old. People that benefit the most from a Roth IRA are people that have a long time to grow the assets. This is because you will have a longer period of time to grow your money as much as possible and be able to withdraw the funds without paying taxes.
When should I consider a Rollover IRA or a Roth IRA Rollover?
- When you change jobs is the perfect time to take advantage of doing a rollover into a Rollover IRA or a Roth IRA Rollover.
- When you retire is another time you can take advantage of all the benefits of doing a Rollover.
- A lot of plans will allow you to rollover your assets when you reach 59 1/2 and still working at your current job.
What are the benefits of doing an IRA Rollover or Roth IRA Rollover?
- More investment choices: With in an IRA rollover and a Roth IRA Rollover there are many investment choices you can pick from that are not available within an employer-sponsored retirement plan. The number of investments available within the employer-sponsored plan are limited to the plan investments. With in an Rollover IRA you can invest in a lot more types of investments and it gives you more flexibility when it comes to building a portfolio that meets your investment objectives and risk. With a Rollover IRA you can invest in individual stocks, mutual funds, ETF's, individual bonds, fixed annuities and variable annuities. Fiducia Financial & Insurance Services only offers Fixed annuities to its clients. Fixed annuities are a conservative investment that pays an interest rate and is not volatile like other investments.
- Lower fees: The fees in an IRA rollover and Roth IRA Rollover can be lower and even be zero depending on what investment vehicle you choose. Most employer-sponsored plan only offer mutual funds as an investment vehicle with in the retirement plan. Mutual funds can have high fees that are associated with this type of investment vehicle.
- Potential to convert your retirement plan to a Roth IRA: The potential of turning a retirement plan to a Roth IRA can be a great advantage depending on many factors. This can help someone that cant qualify to invest in a Roth IRA because of their income being too high. The advantage of this strategy is that when you make a withdrawal, it is tax free.
- Consolidation of many types of retirement plan into one Rollover IRA: You can consolidate your accounts to make it less complicated and easier to track.
- Save money on taxes: If you make contributions to a IRA Rollover you can deduct the contribution. This will help you with to lower the taxes your will have to pay.
What type of investments does Fiducia Financial & Insurance Services offer?
Here at Fiducia Financial & Insurance Services we offer investments that are conservative and are not volatile like the stock market. We offer fixed annuities and have access to offer the top rated companies.
Get started today!
Are you ready Rollover your retirement plan assets to a Rollover IRA? Call us to learn more about setting up your Rollover IRA today?