At a crossroads in your career there are many challenges. How is my cash flow affected? What should I do with my company retirement plan? Should I leave it where it is or transfer it? Can I access cash or gain income without a penalty? What are the tax consequences?
The first thing to do is to make sure that your life and health are insured. Then, you’ll want to decide whether you should accept a lump sum or reinvest your former retirement plan. People who switch employers are often faced with a big decision: what to do with the money they have accumulated in their 401k-retirement plan? Can I roll it into a new employer’s plan and is that the best option?
Choosing a rollover when leaving an employer may have advantages. It helps you build a more diversified portfolio because it gives you control of your investments and it helps reduce your risk of losing track of your money.
Whatever road you decide to take, the CFS Financial Advisors at United Investment Planning can help guide you along and make sure you’re aware of the options available to you during such transitions. To schedule an appointment for a complimentary consultation call a Financial Advisor at 269-982-1445.