Pros and Cons of In-Service 401(k) Rollover
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- Опубликовано: 8 сен 2024
- In this video, Colin Exelby, CFP® will discuss the pros and cons of an In-Service 401(k) Rollover while shedding light on a valuable strategy for individuals who may not have changed jobs but are seeking greater control over their retirement savings..
Consolidating 401(k) accounts with an In-Service Rollover into a single IRA can simplify your financial life, making it easier to manage and track your retirement savings.
It can be a powerful tool for increasing control over your retirement savings, but it's important to understand the advantages and disadvantages before deciding if it's right for you.
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[About] Colin Exelby is a Certified Financial Planner Professional™ or CFP®. He owns the virtual financial advisory practice Celestial Wealth Management.
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Great info. Just discovered your channel a week or so ago. You have a follower and fan from St.Louis County.
Welcome aboard!
*Something else to consider depending on your age is whether RMDs are required. Typically unless you are a 5% or more owner of the company, RMDs are not required in a 401(k) until you leave employment. RMDs are required in an IRA. But... this doesn't apply to too many people since the current RMD age is 73 and rising.
Good content. Thanks
Glad you enjoyed it
Great job 👍
Only thing I disagree with is simplicity. I will do an in-service rollover but I will still keep investing in that 401k. (It doesn't change the amount of accounts I have have)
Thanks for sharing!
Very true, the # of accounts doesn't change but it can make it easier to manage with more of wealth in a single account type.
@@seetheforestthroughthetrees possibility but I would not consider simplicity in the reason to do a in service roll over
Control, more flexibility and expenses would far out weigh my decision