If you have a 401k and you are leaving your job or doing something else that requires you to roll it over, you may be trying to figure out what the best course of action is for this. What options are there for you to choose from and how can you be sure that you’re going to be making the right decision? In this article, we’re going to give you an idea as to some of your options and what they could end up looking like if you decide to go in that direction.
You can make the choice to roll over to the plan at the workplace that you are going to, if the plan at your old workplace has the ability to do so. This is, perhaps, the easiest way for you to take care of things, as long as you’re actually able to do it. The biggest obstacle that a lot of people face when they’re dealing with rolling over their 401k is if they are even allowed to switch what they have to the new workplace. You’ll have to talk to both workplaces in order to get details about the issue and to figure out the best course of action if this is what you want to do. If you aren’t able to do this, then the next option is something that you are going to at least have to consider doing as an option.
You can keep your 401k at your old workplace, knowing that you can no longer contribute, just cash out when you retire (it will still work like it did before you left the workplace). This isn’t the most ideal situation, because it requires you to still be in contact with your old workplace. If you didn’t leave on the best of terms, this can make dealing with your 401k uncomfortable at best; hostile at worst. That being said, it does save a lot of hassle when it comes to moving stuff around. You don’t run the risk of losing any of your money and you get to keep the same investment rate that you had when you started putting the money in at your old workplace. This is the convenient answer that a lot of people go for just because it’s the easiest thing to try and do.
You can move all of the money to what is called a Fidelity IRA. A fidelity IRA is a unique IRA that you can roll over any and all of your retirement accounts into without fuss. You get the same tax benefits that you got from the 401k’s and everything, so you’re not missing out. You may lose on the interest a little bit (how much you get will vary depending on a number of factors), but you can finally keep track of all of your retirement accounts in the same place and at the same time. This makes it easy for you to see how much you have and how much you are going to get in the future as well. As with all IRA’s, it will go up and down with the stock market, but you have the advantage of not leaving with any less than you started out with, which reduces risk.
You can roll over into a Gold IRA. This option is becoming an incredibly popular option for many of the people who are investing in IRA’s. The IRA’s have an excellent return based on everything that is out in the stock market today, and if you are doing it in gold, silver, or any other type of precious metal, your options are almost endless. You can do this with some or all of the 401k that you have, depending on how much you want to see the difference in what you’re going to get. Gold IRA’s are a lot more successful than many other types of IRAs that are out there, which means that you’re going to end up with a lot of cash in the long run. On top of that, you actually own the precious metals that you’re investing in, so if something happens and the stock market devalues or crashes, you are in a much safer spot because you have something that will always have some sort of value associated with it.
So, as you can see, there are a lot of options for you to look at and consider. If the Gold IRA is on your list of considerations, make sure that you contact us as soon as possible. We have a number of options that you can consider and we will help you to figure out what the best and safest option is for you and your financial future. We can’t wait to help you learn more about these flexible investment options.