Roth 401k Rollover

What you need to know about Roth 401k Rollovers

Have you thought about your future finances and retirement plans? In 2007, millions of Americans choose Roth 401k plans as their main retirement plan.  Roth 401k plans are the most popular type of retirement plan in the United States.  With millions of people participating in this kind of retirement plan and trillions of dollars in assets attributed to them collectively, Roth 401k is the choice retirement plan for Americans. 

As we all know, life tosses us a few curveballs every now and then.  Sometimes we must part ways with our employers due to circumstances not in our control.  Other times we seek opportunities elsewhere.  Roth 401k plans are flexible in that if you choose to do so, you may rollover your account or plan to another employer’s plan.  What does this mean?  It means that if you are happy with your retirement plan, you can take it with you if you change jobs or career.

Thinking about rolling over your Roth 401k?   If you or anyone you know has questions involving retirement plans, please contact a Financial Planner today!

Benefits of Roth 401k Rollovers

There are plenty of benefits for rolling over your Roth 401k to another employer.  Among these benefits are:

• Tax benefits – if you cash in your retirement plan, you may be penalized and have to pay more in taxes.
• No early withdrawal penalty – if you quit your plan before you are 59½, you may have to pay a 10% withdrawal fee.  Rolling over your plan is the thing to do to keep those withdrawal penalties at bay!
• Comfortable retirement – rolling over your Roth 401k plan to an IRA account may guarantee you more financial security after you retire.

Many Americans are happy with their Roth 401k plans and keep them for the duration of their careers.  But often times, we are not able to keep our initial Roth 401k plans and must pursue other retirement options.  Roth 401k Rollovers is the best option because of the lack of penalties, costly fees, and flexibility in controlling your retirement money.

Topics related to Roth 401k Rollovers include:

• Roth 401k Plans
• Roth 401k Cash Out
• Roth 401k Taxes
• Roth 401k Rule
• Roth IRA

Thinking about rolling over your Roth 401k?   If you or anyone you know has questions involving retirement plans, please contact a Financial Planner today!

A representative will call you as soon as possible.

Updated: K.E.