Saving enough money to live comfortably during retirement is a chief concern among countless Americans. For so many, retirement plan services provided by plan sponsor employers, unions, or other professional bodies maintain this critical financial lifeline, often via a 401(k).
Rolling over your 401k today can help move you towards a more comfortable retirement tomorrow. Leaving your 401k unattended can not only jeopardize your retirement, but also ensures that you miss out on various market opportunities. Besides that, rolling over your 401k gives you more control over your investments.
When investing for retirement, investment fees should not total a significant portion of your retirement portfolio. Fees assessed on qualified retirement plans add up, especially for plans for smaller employers. The 401k and the Individual Retirement Account (IRA) have become the retirement savings vehicles of choice, but these accounts all charge fees or other expenses that eat into returns.
The subject of what to do with assets after retirement or death is an understandably difficult topic to address. Upset family members, lost documents and the absence of the grantor after death are among some of the difficulties that tax professionals face. But the ultimate difficulty lies in having the conversation in the first place.