Your 401K Plan: Take Control at Any Age 59 ½ – Or Earlier
Are you comfortable with the risk, volatility, and potential losses in your 401K plan? We have found most people have a large portion of their retirement savings are dependent on their 401k plans, yet they don’t understand or even like their 401K. They feel stuck.
If you’re working and 59 ½ or older, the IRS allows you to enact an “In-Service Transfer” of your current 401K plan to your IRA of choice, and you won’t pay any income taxes on the transfer. An “In-Service Transfer” can be very beneficial for a 401k plan, if you are trying to reduce risk, fees, or establish a plan now that will provide you guaranteed lifetime income when you retire.
If you are 59 ½ or older, still working, and have a million dollars or more in your 401K, the most important thing to do now is to reduce your risk and volatility in your plan. And by completing an “In-Service Transfer” of your current 401K plan balance to your I-R-A, your 401K plan isn’t closed, you can still make future contributions while employed until you retire.
You may also be interested in this recent video from our Whiteboard Series.
Do you have a 401k plan with a previous employer? You can transfer this at any age to an IRA. If you want to take back control of your 401K plan, call us today.
916-791-7063
You might also like to learn more about our book Momma’s Secret Recipe for Retirement Success
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Investment Advisor Representatives of and Advisory Services offered through Fiduciary Solutions, LLC, a Registered Investment Advisor. Peak Financial Freedom Group LLC is primarily a fixed insurance sales organization and provides no Advisory Services. PFFG Insurance Agency LLC, CA License #0N14013, is a licensed insurance agency and provides no Advisory Services. Peak Financial Freedom Group LLC, PFFG Insurance Agency LLC, and Fiduciary Solutions LLC are separate affiliated entities. Insurance products and services provided by PFFG Insurance Agency LLC and independent agents. Jim Files CA Insurance License #0F06511 Dan Ahmad CA Insurance License #0732913
Peak Financial Freedom Group ∙ (916) 791-7063 ∙ www.peakfin.com 2520 Douglas Boulevard, Suite 110, Roseville, CA 95661
