401(k) Action Steps To Take Now In Order To Take Charge Of Your Financial Life

January 9, 2017 | By Steven DiGregorio

401 k Action Plans for Your Finances


Every time you change jobs, you need to make some choices about what to do with your old 401(k) so that it keeps up with your financial needs. Generally, you have four basic options with any 401(k):

  • You can leave the assets in the old employer’s plan (if the plan permits it).
  • You can roll the assets over into your new employer’s plan (if the plan permits it).
  • You can roll the assets over into an individual retirement account (IRA).
  • You can take a cash distribution (warning: taxes consequences & penalties may by imposed).

Each of these options has some advantages and disadvantages to consider. In this special report, we’ll help you avoid common (and expensive) rollover mistakes and show you how you can use your 401(k) rollover as an opportunity to help your retirement preparations.

Have you ever switched jobs?

Research shows the average American employee switches jobs 11 times before retiring.

Job changes means many Americans have old 401(k) plans that may not be allocated properly to help to prepare them for retirement.

[i] http://www.bls.gov/news.release/pdf/nlsoy.pdf

To read the entire White Paper: 8 Timeless Principles of Investing click here.

The content of this article is for informational purposes only and is not intended as an offer or investment advice to buy, transfer or sell any security or investment vehicle. Information contained herein has been obtained from sources deemed reliable, though Spire Wealth Management LLC, Spire Securities LLC and affiliate Compass Asset Management Group LLC, do not guarantee its accuracy. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the opinions of Spire Wealth Management LLC, Spire Securities LLC or other affiliates.

Spire Wealth Management LLC is a Federally Registered Investment Advisor. Securities offered through an affiliate, Spire Securities LLC. Member FINRA/SIPC.

Tags: 401 (k)

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STEVEN M DIGREGORIO is President of Compass Asset Management Group, LLC and an Investment Advisor Representative with Spire Wealth Management, LLC.
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