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    Rolling Over Your 401(k) or 403(b) to a Secure IRA

    We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives.

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    With The IQ Wealth “Safer Buckets” IRA Rollover , You May Lower Your Risk and Fees, Keep Money Growing, and Provide You and your spouse secure lifetime income.

    IRA & 401k Rollover Basics:

    When you change jobs or retire, there are four things you can generally do with your employer-sponsored retirement plan:

    1. Leave the money where it is
    2. Take the cash (paying income taxes and perhaps a 10 percent additional federal tax if you are younger than age 59½)
    3. Transfer the money to another employer plan (if the new plan allows)
    4. Roll the money over into your own self-directed IRA

    By far the most popular approach is to simply “roll over” your company sponsored tax deferred plan assets into your own self directed tax deferred plan. This is an Individual Retirement Account, otherwise known as an IRA.

    You may keep contributing to your current 401k, even after you have rolled over all or part of the assets. Rolling over assets from a 401k does not terminate the 401k.

    Here are the advantages of rolling over to an IRA:

    1. Fees are often lower
    2. Investment options are more flexible
    3. Tax Neutral: There are no taxes withheld from the rollover transaction when done in the proper manner. It is quite a simple process. Our team can help make it seamless.
    4. More principal protection with better retirement income options

    When you change jobs, you can keep contributing to your new IRA, and simply roll over your old plan to your IRA.

    • If you are still working, you will have both an active contributory 401k (hopefully with a match) and your own IRA account.
    • You can create and grow a pension-like permanent income inside your new IRA, that can pay both you and your spouse lifetime incomes.

    Rolling over from one qualified plan to another qualified plan allows your money to continue growing tax-deferred until you receive distributions in retirement. We can help you determine if a rollover is the right move for you.

    If you decide to cash out of an IRA, we can help you find suitable vehicles to help you reach your retirement income goals.

    Videos for your review

    In days past, retirement planning was simple. Work for 30 years, accumulate a nest egg, then sit back and collect 6 percent interest. Clearly, we live in a “new normal” with interest rates at unheard of lows, and the stock market volatile. The strategy and the advisor that gets you to retirement may not be the right one to get you through it.

    During your working career, you are in the accumulation and contribution phase. Upon retirement, you move into what is known as the “decumulation” and withdrawal phase. Either you will need your IRA money to provide income during your 60s, or you will be forced to start taking required distributions when you reach 70.

    For some individuals, cash value life insurance that is “max funded” (also known as “overfunded”) may provide a viable alternative to 401(k)s for after tax money.

    Overunded cash value life insurance can also be tool for making better use of RMDs — required minimum distributions.

    Rolling over from one qualified plan to another qualified plan allows your money to continue growing tax deferred until you receive distributions in retirement. We can help you determine if a rollover is the right move for you, and we can help find the best vehicle to help conserve and grow your rollover assets.

    Neither the Company nor its agents or representatives may give tax, legal, or accounting advice. Individuals should consult with a professional specializing in these areas regarding the applicability of this information to his/her situation.

    For a review of required minimum distribution rules, click here.

    Get access to our helpful retirement kit, which includes three guides that address topics you should consider when planning your retirement.