Twenty Strong Reasons To Rollover 401k and Retirement Money To a Self Directed IRA When Leaving a Job

1. The company pension plan may “freeze” at termination. And more companies are reducing pension benefits to loyal workers.

2. You can no longer contribute to the 401k.

3. You can no longer take loans from the 401k.

4. There are no more employer match or company contributions.

5. The 401k plans have limited choices.

6. Many 401k plan choices demonstrate mediocre returns with high risk.

7. Many 401k choices carry heavy loads (commissions).

8. Many 401k plans have high management fees buried in their contracts.

9. With an IRA you have significantly more investment choices with more flexibility.  You can establish your own personally unique asset allocation.

10. Properly invested, returns in an IRA can exceed 401k returns.

11. Asset management fees in an IRA must be disclosed when the IRA is opened.

12. You can pay an advisor pre-tax from profits in the IRA and neither viewed as a distribution nor taxable event.

13. You can easily roll the entire amount tax-free to an IRA.

14. An IRA allows penalty-free withdrawals for higher education plus first-time home buying.

15. In an IRA you can withdraw money before age 59 1/2 penalty free via IRS rule 72-T.

16. Returns in an IRA compound tax deferred.

17. You can easily switch assets within the IRA with no tax consequence.

18. Many companies force non-spouse beneficiaries to withdraw money in the 401k in a short time following the death of a participant which can produce potentially severe tax consequences.  In an IRA, you may stretch out payments thus lowering tax.

19. You may get one consolidated, easy-to-read statement.

20. Your life and finances can be simplified.  And you can take control of your hard-earned money while moving towards financial security.

The time to act is now

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