Utilize a Powerful Retirement Tool

When approaching or entering retirement, it’s possible you’ll need to consider accumulated savings made into one or more 401(k) accounts from previous employers. Once you’ve reached age 59 ½, you can begin making withdrawals from these accounts without fear of a penalty. However, there are alternative methods to handling 401(k) funds that can be utilized to continue earning interest off invested funds while considering tax situations that may change as you progress into retirement.

Plans that have been active for a considerable amount of time may have accumulated at a significant rate while simultaneously keeping your current tax bill lower since contributions are made with pre-tax dollars. But this must be considered when beginning to withdraw from the plan as income will become taxable.

If you’re still on the way to your retirement years and able to put aside more money than at the beginning of your career, a 401(k) also allows for greater limits on annual contributions compared to other tax-deferred retirement plans.

We’re here to help guide you towards a plan that directs your assets into retirement vehicles best suited to your goals moving forward.