401K Rollover Services

If you've changed jobs, are retiring, rolling over your retirement assets, 401k to a Self-Directed IRA with Prosperity Wealth Advisors could be an excellent strategy.  The transfer is a non-taxable event, and gives you access to a wide range of investment options, personalized advice, and the convenience of having consolidated your investments in a single location.

Prosperity Wealth Advisors is experienced in 401K rollovers and can handle all the details for you, including:

  • Contacting your former plan administrator

  • Opening your new rollover IRA over the phone

  • Completing the paperwork and guiding you every step of the way

GUIDANCE

Prosperity Wealth Advisors will perform a comprehensive review of your 401K retirement investment portfolio. Prosperity Wealth Advisors will then carefully tailor a plan designed to match your goals, risk tolerance and time frame for you to have retirement income.
 

SERVICE

When contacting us, Prosperity Wealth Advisors will work with you completing your rollover in a few easy steps.  Prosperity Wealth Advisors will assist you with the paperwork, track your rollover assets and help you develop an investment strategy.

CHOICE

Prosperity Wealth Advisors will offer a wide range of investment options for your IRA.  You can choose from thousands of mutual funds, stocks, bonds, CDs, treasuries, and alternative investments. 
 

CONTROL

By seeing your total retirement savings on a single statement, you can easily monitor and manage your investments, while accessing your retirement accounts with one click or one call.  In addition, flexible beneficiary designations may allow for the continued tax-deferred investing of inherited IRA assets.

 

The benefits of a rollover IRA include:

  • Keeping your retirement assets invested in a tax-deferred account

  • Avoiding current taxes or penalties that may apply to a withdrawal

  • Having more investment options, including stocks, mutual funds, bonds, CDs, treasuries, and alternative investments. Having access to professional one-on-one retirement planning and investment guidance

The disadvantages of a rollover IRA are:

  • Cannot borrow against your assets 

  • Annual fees and/or commissions may apply, and may be higher than your plan

  • In addition to rolling over your 401k to an IRA, there are other options. Here is a brief look at all your options. For additional information and what is suitable for your situation, please consult us.
     

Leave money in your former employer's plan, if permitted. 

  • Pro:  May like the investments offered in the plan and may not have a fee for leaving it in the plan. Not a taxable event.
  • Cons:  Limited to the plan's investment options, may not be able to remain in the plan. You cannot take a loan against your old 401K plan.

     

Roll over the assets to your new employer's plan, if one is available and it is permitted.

  • Pro:  Keeping it all together and larger sum of money working for you, not a taxable event. May be able to borrow from the plan.
  • Cons:  Limited to the plan's investment options, may not be able to remain in the plan. You cannot take a loan against your old 401K plan.
     

Cash out the account

  • Cons:  A taxable event, loss of investing potential. Costly for young individuals under 59 ½; there is penalty of 10% in addition to income taxes.
     
  • Consider all available options, which include remaining with your current retirement plan, rolling over into a new employer's plan or IRA, or cashing out the account value. When deciding between an employer-sponsored plan and IRA, there may be important differences to consider - such as range of investment options, fees and expenses, availability of services, and distribution rules (including differences in applicable taxes and penalties). Depending on your plan's investment options, in some cases, the investment management fees associated with your plan's investment options may be lower than similar investment options offered outside the plan.