IRA Rollover

Gaining Control of your old 401k or 403b   

Are you concerned about what your former employer is doing with your old 401k savings? Would you like to be able to take your 401k from your old employer and put in into an account that you will be able to control and have access to before and when you retire? 

This is a concern for everyone that has changed careers, or companies and invested in a 401k account that the employer controls. It has been noted that the average person will make 3 to 5 career changes in a lifetime. With this said, In most cases, when you invest in a company controlled 401k savings account, the company will still control that account even after you leave the company. If this is the case you also loose the ability to withdraw funds out of the old 401K account for buying a house for the first time, or hardship loans. To make matters even worse, your 401K account could be lost if your old employer is bought or acquired by another company.

How West Financial Can Give You That Control  

At West Financial Services we can explain how you can gain access to your old 401K by opening an IRA Rollover account. We can invest the contributions from your old 401K in an account that you have more investment control over. Furthermore if you meet the maximum yearly income requirements, you can invest the newly formed IRA Rollover account in a Roth IRA which has significant tax saving advantages for retirement.

Advantages of Opening an IRA Rollover

• More investment control

• Build a more diversified portfolio

• Eliminate the chance of losing your funds due to your old employer getting bought or acquired

• Reduce high expenses associated with your old employers 401K

• Consolidated savings in one account

• Potential tax savings

By putting your old 401k in an IRA rollover account you will not only experience the advantages listed above, you will also have the peace of mind that your future retirement is under your control, not your old employers. Don't let your old employer decide what is best for your retirement savings any longer.

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