If you're nearing retirement, rolling over your 401(k) can be an effective way to secure your financial future. At Glory Financial, we believe that a customized approach is the key to success. Our experienced financial advisors, led by President and CEO Josh Karasow, specialize in helping retirees and those nearing retirement develop plans that provide safety from market losses, tax reduction strategies, guaranteed lifetime income, social security maximization, fee avoidance, and more.

Understanding 401(k) Rollovers: Your Guide to Success

401(k) rollovers can be complicated, but our team at Glory Financial is here to guide you through the process. We'll help you understand your options, including rolling over your 401(k) into an IRA or Roth IRA, and develop a plan that suits your unique needs and goals. With our guidance and support, you can be confident in making informed decisions about your retirement savings.

How to Avoid Tax Penalties and Fees

Rolling over your 401(k) can come with tax penalties and fees if not done properly. At Glory Financial, we understand the complexities of the tax system and can help you navigate the process to minimize any potential penalties and fees. Our team will work with you to develop a tax-efficient plan that ensures a smooth rollover.

Unlock New Investment Opportunities

Rolling over your 401(k) can open up new investment opportunities that were not available in your employer-sponsored plan. Our team at Glory Financial will work with you to identify new investment options that align with your risk tolerance and goals. We'll develop a diversified investment portfolio that can help maximize your returns.

Simplify Your Retirement Portfolio

Managing multiple retirement accounts can be overwhelming. At Glory Financial, we believe in simplifying your retirement portfolio to make it easier to manage and understand. Our team will work with you to consolidate your retirement accounts and develop a streamlined investment plan that works for you.

Customizing Your Retirement Plan

At Glory Financial, we believe that retirement planning should be customized to your unique needs and goals. Our experienced financial advisors will work with you to understand your retirement goals and develop a personalized plan that works for you. We'll take into account your risk tolerance, income needs, and other factors to create a comprehensive retirement plan that is tailored to your specific needs.

How Glory Financial Can Guide You

At Glory Financial, we understand that retirement planning can be overwhelming. That's why our team of experienced financial advisors is here to guide you through the process and help you achieve your retirement goals. Led by President and CEO Josh Karasow, we take a personalized approach to financial planning, incorporating all aspects of your financial life to create a comprehensive plan that works for you. With our guidance and support, you can confidently navigate the complexities of retirement planning and make informed decisions about your financial future. Contact us today to learn more. 

Frequently Asked Questions About 401(k) Rollovers

What is a 401(k) rollover and how does it work?

A 401(k) rollover is the process of transferring funds from a 401(k) plan to an IRA or another qualified retirement plan. This can be done when you change jobs, retire, or simply want more control over your investments. The rollover process involves requesting a distribution from your 401(k) plan administrator and then depositing the funds into your new account within 60 days to avoid taxes and penalties.

What are the benefits of a 401(k) rollover?

Rolling over your 401(k) can have several benefits, such as simplifying your retirement accounts and gaining greater control over investment options. Additionally, it can potentially reduce fees and give you more flexibility in terms of withdrawals and distributions.

Are there any tax implications when rolling over a 401(k)?

If you roll over your 401(k) into an IRA or another qualified retirement plan, there are typically no immediate tax consequences. However, if you choose to withdraw the funds before the age of 59 ½, you may be subject to early withdrawal penalties and taxes.

How do I rollover my 401(k)?

To rollover your 401(k), you'll need to first contact your plan administrator and request a distribution. Then, you'll need to open an IRA or other qualified retirement plan and deposit the funds into that account within 60 days. It's important to ensure that the funds are transferred directly to the new account to avoid any tax or penalty issues.

Can I rollover my 401(k) while still employed?

In some cases, you may be able to rollover your 401(k) while still employed, but this will depend on your plan's rules and regulations. It's important to speak with your plan administrator to understand your options and any potential implications for rolling over your 401(k) while still employed.