Maximize your Retirement with a 401(k) Rollover
When you leave a job, why would you want to leave your retirement savings with your previous employer? A 401(k) rollover allows you to transfer your existing retirement account into another retirement account without being hit with tax and withdrawal penalties. If you are starting a new job, you could do a rollover into your new employer’s 401(k), but this has the same weakness as keeping your money in your former employer’s 401(k): 401(k) plans have limited investment options, do not protect against loss of principal, and offer no income protection for your retirement years. Another popular option includes a rollover into a mutual fund IRA (Individual Retirement Account). Mutual Fund IRAs do offer a wider range of investment choices, but still do not protect you from risk of loss, and offer no income protection for your retirement years.
A 401(k) rollover into an Annuity IRA is a smart option. Rolling your 401(k) into an annuity allows you to transfer your retirement money from restrictive 401(k) plans into a safe investment, one that offers you far more flexibility in investment options. A rollover into an annuity gives you continued tax-deferral, protects against loss of principal, and offers living and death benefits that can protect not only you, but designated beneficiaries as well. With an annuity, you can set it up to receive guaranteed income for the rest of your life – no matter how long you live. Furthermore, annuities are a very suitable investment product for those who want to ensure they have sufficient retirement savings; they protect against market volatility and offer decent returns. Do not leave control of your retirement savings with your former company.
Contact us at 858-703-6178 to keep control of your retirement and put it on a safe and guaranteed path.