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IRA Rollover

“Ask how we can help with your 401(k) rollover!”

“Your 401(k), 403b or IRA”

If you have recently switched jobs, recently retired or were terminated from your employer you have options with your 401(k) or company’s retirement plan. At the Sullivan Financial Group we will take the time with you to discuss all your options and recommend the most appropriate plan of action. Most often than not, the IRA rollover is your Best option. It will simplify things by consolidating all your retirement plans into one account.

Benefits of a Rollover IRA:

Continued Tax Deferral
An individual will be able to continue tax deferred treatment that you have from your previous employment. Furthermore, no tax is owed on a properly executed rollover. SFG will handle everything in the IRA rollover process; this way there will be no tax consequences to you.

Increased Investment Options
With your recent retirement plan, you are given limited choices as to where you can significantly invest your money. But with a rollover IRA, you can freely choose any possible investment you have imagined. SFG will take the time with you to discuss your investment goals, time horizon and risk tolerance and together we will develop and build a portfolio that will get you to your goals.

Instead of getting confused on seeing numerous retirement accounts in the mail from different employers and different IRA accounts, you can just stay focused on a single rollover IRA. In this way, you will not have any difficulties looking at your accounts and you will have a simple way to track your account and performance so that you are assured it is meeting your goals and objectives.

Leaving your 401(k) at your employer can be costly

When you leave your employer, you may think it is the best option to just leave the money in the company’s retirement plan. While this may sound good and very simple it is definitely not your best option. Many hidden fees exist. There are three kinds of fees that your 401k plan will charge you: Plan Administration Fees, Asset Based Fees, and Service Fees. Plan administration fees are charged at different amounts depending on the deal worked out by the employer. Asset based fees can take many forms, but since these fees are taken out of your assets they are not visible in your account statement. Transaction and service based fees are charged to a plan participant for the completion of specific service. So what does all this mean to me? The bottom line is that the fees will take away from the money being built to supplement your retirement. You will have less in the account versus rolling over to an IRA.

Sullivan Financial Group in Bergen County, New Jersey is a widely-recognized insurance and financial services company. Our insurance services are available for all residents in New Jersey. Our office is currently located in Bergen County and we will be happy to help you find an insurance plan that fits your budget and your needs. We can be reached online by sending a message, visit our office at 567 Broadway, Westwood, NJ 07675 or feel free to give us a call at 201-497-3334.

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