Are you considering rolling over your 401k?
We provide advice and help for people who have changed employers and or reached age 59 ½ and have an In-Service Distribution option. Many 401(k) plans offer limited fund investment options and investment class choices. We can help you examine your rollover options, including whether you should:
1. Leave the money in your former employer’s plan if permitted;
2. Rollover the assets to your new employer’s plan if one is available and permitted;
3. Rollover the assets into an IRA; or
4. Cash out the account value.
At Hoskins Wealth Management, we specialize in retirement planning, and have tools to examine your 401K options in terms of long-term retirement planning objectives. We will help you consider ways to reduce taxation when RMDs (Required Minimum Distributions) begin at age 70-1/2, requiring that you start withdrawing from 401K funds whether you need the money or not—and pay income tax on the withdrawn amounts to the IRS.)