A Message from Summit Financial Advisors
It is probably one of your biggest assets. Don’t ignore it. People change jobs all the time, but many forget some important details – like their retirement plan money and leave it in their old employer’s sponsored pension or 401(k) plan.
Could this be you? If so, you really owe it to your future to consider where to put the retirement assets you’ve worked so hard to build up. The wrong move could cost you thousands and greatly affect the quality of your retirement years.
One option is to consider moving over any retirement plans from a former employer into an IRA.
- Simplicity – Consolidate your retirement assets into one IRA. It will simplify your record keeping and give you a better picture of your overall portfolio.
- Eliminate Investment Overlap: Having several accounts can have you holding many of the same type of investments in each account, and cause you to be out of balance for your set of financial circumstances.
- Wider Array of Investment Choices - It is very common for employer plans to have only a few investment options. Rolling assets into an IRA will literally give you thousands of investment choices.
- Roth Conversions - Once your plan is rolled into a traditional IRA, you may be able to convert it to a Roth IRA.
- Beneficiary Distribution Options - Many employer plans have very limited and rigid beneficiary distribution options, especially for non-spouse beneficiaries. Rolling your assets into an IRA offers many additional flexible distribution pay out options, such as the "Stretch IRA"(paying out the death proceeds over multiple generations of beneficiaries).
Need help deciding what option is best for you? Contact Summit Financial Advisors serving the members of Summit Credit Union at 800-236-5560, Ext. 4012 for a no-cost, no-obligation Retirement Assets Consultation. Today is the best time to get started!
Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free (866) 512-6109. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members.