How to Safeguard Your Retirement Plan When Changing Jobs...

Today, the average person works 2.3 years at a job before changing it. Often, when you do change jobs and companies, you have to decide what to do with that 401k, 403b or other retirement plan you’ve built while there. Your challenge is to quickly get up to speed on the pros and cons of the best options you have.

Some will serve you well; some could prove utterly disastrous.  By far...

Your Worst Option Could be to Take a Cash Dispersal

It is tempting, that’s for sure. But if you did take a lump-sum distribution and are under age 59 1/2, there are a few things that you will want to discuss with your tax advisor. First, the IRS could withhold 20% of your funds in anticipation of the income tax you'll have to pay. Also, there could be a 10% early withdrawl fee. So, you could see up to 30% of your retirement proceeds simply vanish, and possibly more if you have a high tax rate. Needless to say, this could rank among the worst of all choices.

Your New Job’s Retirement Plan Could Leave You Little Choice to Roll Your Old Plan Into

Each company has different rules and regulations regarding retirement plans. Some firms will match employee contributions, some do not.

You may find that your new company’s 401(k) restricts investment options far more than your past plan did and may leave few investment choices (if they have a 401k). The best plans would permit a broad range of investment flexibility with no cost for switching among them. Unfortunately, these plans are the exception.

As if a lack of diversified investment choices with your new company isn’t bad enough, it’s hard to overlook the increasing number of pitfalls afflicting corporate plans.

First, with the great number of mergers and buy-outs occurring today, only one plan will be a successor. That means you could well be stuck on the losing side. One consequence? Old loans against your existing 401(k) could be considered a taxable dispersal and you are left with the penalties and tax ramifications. Or you may suddenly face blackout periods where you can’t make any decisions regarding your money until the “battle of the plans” is resolved.

Another downside to consider is employer fraud. It has recently surpassed employee fraud in the dollar amount of damages caused.

Self-Directed IRA’s: Your “Take Control” Option...

Consider diversifying your retirement assets into a self-directed IRA...

With a self-directed IRA, you have the option to rollover your old 401k or 403b, and maintain the tax-deferred benefits while avoiding taxes and penalties. But there’s another important reason why this might be your best plan-successor choice: you’ll have the greatest range of options in funding your plan and could minimize some of the risks mentioned above.

You can direct the investing yourself rather than be limited to the options some new plan administrator decides upon.

For a portion of your retirement assets, the Golden IRA may offer a great way to diversify your assest.

Moving to a Golden IRA is as Easy as 1, 2, 3...

#1. Request A Free Brochure online or call 800-576-9355.

#2. Once you receive the information feel free to call and ask any questions regarding the types of metals that can be included in a golden IRA and any questions regarding the set-up forms.

#3. Once the metals are placed into your account, you will have your own personal representative every step of the way and to call at anytime in the future.