Do you own an inactive 401k, 403b or 457 retirement account? If so, you may not be taking full advantage of all of your IRA transfer options. How so?
The Internal revenue Service (IRS) allows investors to roll employer-sponsored retirement accounts into self-directed IRA plans once the investor is no longer employed by the company with whom the investor started the plan. To fully flex your financial muscle you might want to roll your retirement account into either a Traditional or Roth IRA. What are the advantages?
You’ll have much more flexibility as far as your retirement account investment options once your account is a self-directed IRA. 401k investment options are limited but with an IRA you can invest in anything from stocks and bonds to precious metals and real estate.
401k fees can be burdensome, especially if your plan was administered by one of the unscrupulous companies that charge 1% or more of your account balance annually. Self-directed IRA fees are usually fair, as long as you choose a reputable IRA provider to act as the custodian of your account.
Lastly, the support you receive from your IRA custodian is like to be much more friendly and personalized than that of your 401k administrator, who could be in charge of thousands of employees at dozens of companies. While IRA custodians don’t provide investment advice, it can be helpful to have someone working for you with whom you can speak in person or over the telephone without having to chase them down.
There are some limitations on who is eligible for a 401k rollover, so call 401k Rollover now at (800) 767-1423 and ask to speak with one of our friendly 401k rollover advisers to determine your eligibility and to get an idea of how you can better flex your financial muscle with a 401k rollover.
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