Managing Your 401(k) Rollover

One of the more common financial situations we help our clients navigate is rolling over an existing 401(k). They can often seem like an unpacked box from a former job, just sitting there collecting dust. It’s not unusual for people who have worked for multiple employers to have accumulated more than one. HWM can help you transition these hard-earned assets out of limbo and into a more effective, overall financial plan.

You should know that a 401(k), if distributed to you, may count as income and result in a penalty tax well. By properly rolling it over to an IRA, HWM can ensure it does not count as taxable income, and of course, ensure that your assets are allocated properly, according to your time frame and tolerance for risk.

For most people, cashing out of an existing retirement fund is a bad decision. There can be taxes and penalties associated with going down this path. Instead, let our professional planners transition your old 401(k) into an important, wealth-building part of your portfolio. Instead, let our professional planners transition your old 401(k) into an important wealth-building part of your portfolio.