AllGen Co-Founder Paul Roldán is back with the latest Money Minute segment. Due to social distance practices by the firm, Jason Martin will not be joining Paul for this episode.
In this video, Paul provides an overview of 4 options you have with a 401(k) from a previous employer:
1. You can do nothing.
2. You can take a distribution. Typically, there is a 10% fee if you’re under 59.5 years old, but this fee has been temporarily waived due to COVID-19.
3. You can transfer your 401(k) to a new employer.
4. You can rollover your 401(k) into an IRA.
Watch the video below, or visit our 401(k) Rollover FAQ page.
Don’t let current conditions keep you up at night. Obsessing over the market is what we do!
Give us a call if you have any questions. We’re here to serve.
Important Disclosures: The information provided here is of a general nature and is not intended to answer any individual’s financial questions. Do not rely on information presented herein to address your individual financial concerns. Your receipt of information from this material does not create a client relationship and the financial privileges inherent therein. If you have a financial question, you should consult an experienced financial advisor. Moreover, the hiring of a financial advisor is an important decision that should not be based solely upon blogs, articles, or advertisements. Before you hire a financial advisor, you should request information about the financial advisor’s qualifications and experiences. Past performance is no guarantee of future results. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. Examples provided are for illustrative (or “informational”) purposes only and not intended to be reflective of results you can expect to achieve. AllGen Financial Advisors, Inc. (AllGen) is an investment advisor registered with the SEC. AllGen does not provide personal financial advice via this material. The purpose of this material is limited to the dissemination of general information regarding the services offered by AllGen. The Disclosure Brochure, Form ADV Part II, which details business practices, services offered, and related fees of AllGen, is available upon request.
