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Secure Your Retirement - Radon Stancil, CFP® & Murs Tariq, CFP® EPISODE 44, 3rd February 2021
How Do IRA and 401k Rollovers Work?
00:00:00 00:25:25

How Do IRA and 401k Rollovers Work?

How do I move money between my retirement accounts without getting taxed?

This is a question we often hear from our clients. You may have multiple retirement accounts, and consolidating them or moving your money into a more manageable account might be appealing to you. But there are rules and limitations to how you can transfer money between them.

In this episode of Retirement In Action on the Secure Your Retirement podcast, we walk you through the process of doing a 401k or IRA rollover, explain why you might want to do one, and when you’ll be eligible.

In this episode find out:

  • What a rollover is
  • Why a rollover might benefit you
  • The difference between a trustee-to-trustee transfer vs. a 60-day rollover
  • Why we don’t recommend using a 60-day rollover as a personal loan
  • What makes you eligible for a rollover
  • How to execute a rollover

Tweetable Quotes:

“Sometimes people think, if I've got a 401k with this big company, I get better rates – that is not true.” – Radon Stancil

“Two ways that make you eligible to do 401k rollovers are reaching age 59 and a half or above, or separation of service.” – Murs Tariq

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to mailto:morgan@pomwealth.net.