How to Rollover Your 401(k) Plan

So you’ve decided to switch companies, but you don’t know the first thing about finance or how to rollover your 401(k) plan. Now what? As the rules apply, a 401(k) simply cannot be placed in a U-Haul and driven from company to company. We all wish it were that easy, but we live in an era where financial planning, reasoning, and implementation takes some professional help or even hand-holding.

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What is the 401(k) Optimizer®?

Let’s just say you have a company-sponsored retirement plan and you have long term goals for it. Months, or even years later, you realize your retirement plan is increasing at a snail’s pace and you’re slightly disappointed in that. This is where the 401(k) Optimizer® could benefit you. This tool is designed to help you optimize your investments within your retirement plan. If you have a 401(k), 403b, or 457 plan, using the tool will let you know when to buy and when to sell through a math-based approach. 

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Benefits of Company-Sponsored Retirement Plans

401(k) retirement plans are frequent conversation topics, but are we aware of all they have to offer? If you already have an employer-sponsored retirement plan, you might not fully grasp how these plans work. The more we know about our 401(k) retirement plans the better. About 80 million workers contribute to their retirement plans, which has led to about $5.7 trillion in assets held for 401(k)s in the United States. 401(k) retirement plans do not have to be confusing for plan holders, especially with the many guiding resources which are easily accessible. We’re going to take it back to the basics, and ask, “What is a 401(k) retirement plan?”

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3 Ways 401(k) Retirement Plans Benefit You

Even if you’ve started saving for retirement a little late, it doesn’t mean any future efforts to save will be deemed obsolete. If your company offers to contribute to your retirement plan, it’s highly recommended to take them up on their match, as your investments have greater opportunity to grow and compound over the years. It’s an employer’s fiduciary responsibility to have your best interest in mind when offering a company-sponsored retirement plan.

Every company is different, but your contributions can be matched dollar per dollar, or perhaps 50 cents to the dollar, which means free money for your future. Volunteering to get started on a 401(k) is a financially responsible decision for retirement planning, and a handful of benefits coincide with contributing to the investment plan. Here are a simplified few for starters:

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