Ep.8 - 401(k) Rollover: 6.5 Compelling Reasons to transfer your old 401(k) into an IRA (Individual Retirement Account)

Description: Join Jeff and Steve on Wealth Roadmap as we uncover the transformative benefits of optimizing your retirement assets, whether through consolidating into an Individual Retirement Account (IRA) or keeping them in your 401(k). In this eye-opening episode, we'll explore six and a half compelling reasons why strategic management of your retirement savings could be the key to unlocking financial freedom and maximizing your retirement goals. 

1. Simplified Management and Enhanced Control: Consolidating your retirement accounts into a single IRA offers simplicity and ease of management. 
2. Effortless RMD Management: Transitioning to retirement becomes smoother when managing Required Minimum Distributions (RMDs) from a centralized IRA, simplifying the process and reducing administrative hassle.
3. Greater Investment Flexibility: With an IRA, you gain access to a broader range of investment options compared to employer-sponsored 401(k) plans.
4. Lower Fees and Expenses: Many 401(k) plans charge higher administrative fees and expenses, whereas IRAs often offer lower-cost investment options.
5. Simplified Estate Planning: IRA allows you to designate beneficiaries and efficiently pass on your wealth to loved ones.
6. Strategic Use of Funds: Keeping your assets in a 401(k) offers unique advantages such as the ability to take loans against your balance, potential access to the Net Unrealized Appreciation (NUA) tax loophole, and flexibility to withdraw funds before age 59 1/2 under certain circumstances.
6.5 Considerations for Staying in Your 401(k): If you're still working, keeping your money in your 401(k) may have benefits such as not being required to take RMDs, utilizing 401(k) loans, exploring the NUA tax loophole, and potentially accessing funds before age 59 1/2 for specific needs.

Tune in to Wealth Roadmap and unlock the path to financial freedom today!

Disclosure: “We are trying to avoid making a blanket recommendation. Each decision should be based on the client's specific circumstances. DOL PTE and RegBI standards must be meet prior to recommending a rollover of an ERISA sanctioned plan.”

Disclosures:
Investment advisory services are offered through M Holding Securities, Inc., a registered broker/dealer and investment advisor and Prosperity Capital Advisors LLC (“PCA”) an investment advisor registered with the United States Securities and Exchange Commission (SEC). For a detailed discussion of PCA and its investment advisory fees, see the firm’s Form ADV and Form CRS on file with the SEC. Financial Planning and Advisory Services are offered through Prosperity Capital Advisors("PCA") an SEC registered investment adviser with its principal place of business in the State of Ohio. OneTeam Financial and PCA are separate, non-affiliated entities. PCA does not provide tax or legal advice. Insurance and tax services offered through OneTeam Financial are not affiliated with PCA. Information received from this video should not be viewed as individual investment advice. Product discussions and illustrations are hypothetical in nature and will vary based on many factors including, but not limited to, age, health, product, insurance carrier and product design. You should consult the insurance carrier website and policy for detailed information. Content may have been created by a Third Party and was not written or created by a PCA affiliated advisor and does not represent the views and opinions of PCA or its subsidiaries. For information pertaining to the registration status of PCA, please contact the firm or refer to the Investment Adviser Public Disclosure web site. For additional information about PCA, including fees and services, send for our disclosure statement as set forth on Form ADV from PCA using the contact information herein. Please read the disclosure statement carefully before you invest or send money.
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