One of the key decisions you need to make in the year you retire is what to do with the money in your 401(k). In this episode hosts John Bever and Jim Uren bring you the epic battle of the IRA versus the 401k. Do you leave all of your hard earned money in the 401(k)? Or do you move it into an IRA? Hold on to your seats as we unveil the thrilling pros and cons of each option. And be sure to listen until the end to discover the special circumstances that, if they apply to you, will help you avoid potentially costly mistakes. 

In this episode, you’ll be able to:

·      Discover all of the options you can make with your 401(k) in the year you retire

·      Uncover the potential advantages of rolling over your 401(k) into an IRA and discover why so many people make this choice.

·      Learn the situations in which you should not do an IRA rollover

·      Understand the benefits of pre-tax and after-tax contributions for optimizing your retirement funds.

·       Explore in-service rollovers for flexibility in managing your retirement investments.

·       Learn about the potential tax benefits of net unrealized appreciation and how it can impact your retirement funds.

The key moments in this episode are:

00:00:05 - Introduction to Retirement Planning

00:01:24 - Special Circumstances for IRA Rollover

00:03:23 - History and Significance of IRAs and 401Ks

00:06:18 - Options for Handling 401K in Retirement

00:08:03 - Pros and Cons of Transferring 401K to Another Employer Plan

00:15:16 - Retirement Account Withdrawal Rules

00:16:50 - Advantages of an IRA

00:19:36 - Roth Conversion

00:21:34 - Roth Conversion Timing

00:22:43 - Consolidating Accounts and Beneficiary Considerations

00:29:15 - Restrictions on 401(k) Withdrawals

00:29:50 - Rolling After-Tax Contributions to a Roth IRA

00:31:11 - Taxation of After-Tax Contributions

00:32:24 - In-Service Rollovers

00:34:06 - Net Unrealized Appreciation

Disclosure: The views expressed in this podcast are not necessarily the opinions of Phase 3 Advisory Services and should not be construed directly or indirectly as an offer to buy or sell any securities or services mentioned herein. Unless otherwise specified, show guests are not securities licensed or affiliated with Phase 3 Advisory Services or Osaic Wealth. 

Investing is subject to risks, including loss of principal invested. Past performance is not a guarantee of future results. No strategy can assure profit nor protect against loss. Please note that individual situations can vary. Therefore, the information should only be relied upon when coordinated with individual professional advice. 

Securities offered through Osaic Wealth, Inc. member FINRA/SIPC. Additional investment. and insurance advisory services offered through Phase 3 Advisory Services Limited, a Registered Investment Advisor.

Osaic Wealth is separately owned and other entities and or marketing names, products or services referenced here are independent of Osaic Wealth. Phase 3 Advisory Services is located at 1110 West Lake Cook Road, Suite 265 in Buffalo Grove, Illinois 60089. Our phone number is 847-520-5545. For additional information, visit our website at phase3advisory.com.