There are three options for rolling over your 401(k) plan.You’ve just landed your dream job at ABC & Associates. You’re excited about the change, but it means leaving your old company after 12 years and figuring out what to do about your 401(k) plan. You’ve contributed salary deferrals biweekly for 12 years and are fully vested in the employer’s contributions to the plan, totaling more than $15,000. What are you going to do with that money? There are three options to consider.

  1. Withdraw the money and invest it in an IRA at the bank of your choice.
  2. Roll the money into your new employer’s 401(k) plan.
  3. If you meet your existing plan’s minimum account balance – usually $5,000 – you can keep your money in that plan and allow it to grow.

How do you decide which option is right for you? Cost should be a key factor. Look at the costs associated with each option, as well as the fiduciary responsibility of the person or provider who will be investing your assets.

Whether you are investing $15,000 or $500,000, we want you to make an informed decision of how to invest your 401(k) plan assets. Call us at 206-386-5455 or email us today to schedule a complimentary, confidential consultation.

To your wealth,

Joe Maas, CFA, AVA, CFP®, ChFC, CLU®, MSFS, CCIM
President of SFM Advisors

Joe Maas