401k – Did You Know?

Have you recently or are you planning on changing jobs? Do you know what your options are for your 401k?

On today’s episode…

• What to do with your old 401k and what are your options?
• Can you move your old 401k to your new company?
• Can I roll over my 401k to a roll over IRA?
• Creating an action plan for your old 401k
• Maximize all of your opportunities

Thank you for watching and we look forward to seeing you next time!

Transcript:

Have you recently change jobs or otherwise moved on to a new company? Do you have an old 401k from a previous position that you’ve never touched? Many people go through the experience of switching jobs, but are often confused with what to do with their old 401k’s, and what options are available to you.

Hi, I’m Gabriel Lewit and this is SGL TV.

When you change jobs, it’s important to assess what to do with your old 401k. I’ve worked with many clients who asked similar questions, so today I want to share three key points that you should focus on.

Key point number one — you can move your old 401K to your new company’s plan. Now some of my clients didn’t know this was an option, and just left it where it was, but the reality is that in most circumstances moving your old 401K to a new plan is going to give you more control more flexibility, more Simplicity, and better results.

Key point number two — you can roll over your old 401K to a rollover IRA. By working with an advisor, you can create a rollover IRA account and have total control over what your new rollover IRA is invested in. Often times this provides better choices than your new company’s 401K.

Key point number three — you want to have an action plan for your 401K money. A lot of people don’t put the time into understanding their 401K plans investment choices. Changing job is a great opportunity to reassess what your plan is with your money, and make sure it’s growing as efficiently as possible.

Changing jobs can be both exciting and a little bit nerve-racking all the same time, but remember with change comes opportunity and by taking the time to review your 401k options you’ll ensure that you maximize all of the opportunities that are available to you.