You may have retirement accounts from previous jobs or employers. In this video, learn how to strategize when and how to combine multiple retirement accounts.
- Given that workers in the US typically … change jobs every three to five years, … it's likely that you'll have retirement … accounts with previous employers. … And you might be wondering … whether you should leave those where they are, … roll them over to an IRA, … or maybe a Roth IRA, … roll them into your current employer's plan, … or even take the money and run. … I'll walk you through each of these options … to help you determine the right way to go, … whenever you leave an employer. … As you think through what to do with old accounts, … there are a few key things to keep in mind. … First, do you need the money right now? … Or is this money still earmarked for retirement? … If you truly need the funds, … you can ask your former employer to distribute … the money to you. … But this is one of those break glass … in case of emergency sort of things, … as there's likely taxes and penalties on the distribution. … For example, if you have a 10,000 in an old 401k … and you make $75,000 a year, …
This course was created by Madecraft. We are pleased to host this training in our library.