What do I do with my old 401K?

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The Scenario

It is not uncommon for people to have a number of 401(k) accounts spread across previous jobs which makes it difficult to track and understand how they are invested. It can be stressful when it is unclear how much you are paying in fees across the different accounts, and overwhelming to consider the number of investment options available where each account is held.

Key Considerations

  • Have you considered the impact of required minimum distributions if you are over 70?
  • If company stock is held in your 401(k), are you aware of the NUA rules?
  • Do you have post-tax dollars in your IRA already?
  • How will you handle the pre-tax and post-tax dollars in your 401(k)?
  • Is creditor protection important to you? Should it be?

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How we help

Consolidating your accounts generally makes sense because it’s easier to keep track of your investments and make changes as needed if they are all in one place. IRA rollovers typically have a much larger menu of lower cost investment options than most 401(k)s; however, they are not always best. Your 401(k) has several possible advantages that need to be considered before making the choice. We evaluate all your options because you deserve to make an informed and educated decision as to how these fit into the bigger picture of your retirement, cash flow plan, and tax plan.

Our process includes:

  • Modeling withdrawal needs to identify the optimal strategy that fits into your overall tax and retirement plan
  • Evaluating investment options and fees across all accounts

A successful financial plan helps you live your values. Does yours?

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