Retirement planner's secret 401k rollover advice revealed
Key Considerations for a Successful Rollover
When contemplating a 401k rollover, it's crucial to consider the timing and method of the transfer. Direct rollovers, where funds are transferred directly from your 401k to your IRA, are generally the most efficient and tax-advantageous method. This approach minimizes the risk of incurring taxes or penalties, as the money never touches your hands2.
It's also essential to evaluate the investment options and fees associated with your new IRA provider. Conduct thorough research or browse options online to compare different financial institutions and their offerings. Look for providers that offer a comprehensive range of investments, competitive fees, and robust customer service to ensure you're making the most of your rollover.