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Rollovers

Rollovers

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Roll it over?  Cash it out?  Let it ride?

You’ve retired after years of building your nest egg through your company’s 401(k) or a 403(b) program. So now what?

You have options.

Our team of Financial Consultants, licensed through our broker-dealer CUSO Financial Services, L.P. (CFS), can assist you with your rollover questions.  They have obtained the Chartered Retirement Planning Counselor (CRPC) designation through the College for Financial Planning.  They are here to help you make sure your hard-earned retirement money continues to work to your advantage.

Did you know?

  • You don’t have to cash out your investments to roll over your account. You may be able to keep your current investments, such as company stock, when you roll over to an IRA
  • Beginning in 2010, the income limitations to convert a Traditional IRA to a Roth IRA will be removed

                Compare the difference between a Traditional IRA and a Roth IRA. 

  •  As your life changes, a Financial Consultant can recommend changes to your plan to better meet your long term needs, whether it’s a need for growth, income or capital preservation 
  •  You should make sure to roll over investments properly to avoid penalties 

Why rollover to an IRA?

While you may be tempted to use your savings to meet current expenses, if you are in a career transition or entering early retirement, doing so could be a costly mistake. The long-term impact may outweigh the short-term benefit of accessing your money today. By not rolling over to an IRA:

  • You could lose a large amount of your retirement account balance to income taxes and possible penalties
  • You lose the benefit of long-term, tax-deferred growth that both IRA’s and employer-sponsored retirement plans can offer

If you do have to take cash from your retirement plan, consider taking a distribution only for what you need. You’ll only pay taxes and penalties on the amount you actually need. Roll over the unused balance into an IRA or to your new employer’s plan to maintain tax-deferred growth.

You can discuss your options with a Financial Consultant today. Schedule a complimentary consultation by visiting a DFCU Financial branch near you.

For specific tax advice, please consult a tax professional.

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Ready to schedule your complimentary consultation with one of our highly skilled Financial Consultants? 

Contact us at 888.336.2700.

Or send an email request for an appointment.