What to Do With Your Retirement Account When Changing Jobs
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What to Do With Your Retirement Account When Changing Jobs

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What should you do with your retirement account when changing jobs? You have a handful of options to consider.

What should you do with your retirement account when changing jobs? You have a handful of options to consider.

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What to Do With Your Retirement Account When Changing Jobs What to Do With Your Retirement Account When Changing Jobs Presentation Transcript

  • Mullooly Asset Management Podcast October 2, 2013 Mullooly Asset Management October 2013
  • You Have Options  Take the money and run  Leave the money where it is  Roll it over into your new employer’s plan  Roll it over into an IRA Mullooly Asset Management October 2013
  • Take the Money and Run  Probably not your best option  If under 59 ½ you will incur an early withdrawal penalty  Also the money will become subject to taxes Mullooly Asset Management October 2013
  • Leave the Money Where It Is  If you’re comfortable with the choices in your plan this could be an option  Might not be your best option Mullooly Asset Management October 2013
  • Roll Over Into New Employer’s Plan  If you like to the new employer’s plan and its options this could be for you  Not all employers will accept rollovers from previous jobs Mullooly Asset Management October 2013
  • Roll Over Into an IRA  Probably your best option  Rollovers from your retirement plan to an IRA are tax free  IRA’s have unlimited choices for investment  Money does not need to be withdrawn until you turn 70 ½ Mullooly Asset Management October 2013
  • How To Do This  Call human resources and tell them you want to roll this money over…it is YOUR money  Usually can roll the money into an IRA over the phone  Your money will either go directly to your IRA or you send a check payable to the IRA Custodian for the benefit of you Mullooly Asset Management October 2013
  • None of the securities mentioned in this (or any) podcast or video represent past specific recommendations of Mullooly Asset Management. This video is NOT a recommendation to buy or sell any of the securities mentioned here. If you’re relying on a podcast for investment advice, you are likely making a huge mistake. We strongly urge our listeners to consult with their investment advisor before they make a decision to buy or sell any investment. Mullooly Asset Management October 2013
  • Mullooly Asset Management, LLC support (at) mullooly (dot) net 732-223-9000 www.mullooly.net Mullooly Asset Management October 2013