Before You Retire

Do you have a 401(k) at a former employer?
Are investment allocations aligned with your goals and time frame?
Have you recently changed jobs or are you considering a job change?
Are you struggling to balance education costs with saving for your own retirement?
As you approach retirement age, will you be emotionally ready to stop working?

Will you be financially prepared?

These are among the many considerations and decision points you must work through to make confident decisions about how prepared you will be for retirement and when you will retire. Through comprehensive financial and investment planning, we can model different scenarios to help you determine the best time to retire as we help you prioritize your goals and develop a strategy to preserve and grow your retirement assets.

What should I do with my 401(k)?

People leaving an employer typically have four options with their 401(k) retirement plan, but it’s not an all-or-nothing decision. Depending on your situation, it may be possible to engage in a combination of these options:

• Leave the money in your former employer’s plan, if permitted
• Roll the assets over to your new employer’s plan, if one is available and rollovers are permitted
• Roll the assets into an Individual Retirement Account (IRA)
• Cash out the account value

Each choice offers advantages and disadvantages. If you are uncertain what action to take with your retirement accounts, please reach out. Over the years, we’ve found the best financial decisions are the ones that consider all available options.

If you have questions about what rules apply, you may want to get in touch with your former employer’s human resource team. As always, I am here to help.