Wondering what to do with your 401(k) or other retirement accounts when you retire or change jobs? Consolidating these accounts to an IRA at Heartland Trust offers greater control and diverse investment options to meet your unique needs and goals. Call us today to start the rollover process!
For a lot of individuals, tax-advantaged retirement plans are a substantial portion of their retirement savings. Care needs to be taken when managing these accounts to maintain the tax-advantages they offer. Contributions and distributions must also be done with care to stay within IRS limits and avoid paying too much in taxes.
IRAs typically provide a broader range of investment options compared to most employer-sponsored retirement plans. At Heartland Trust Company, we will not only find the right asset allocation and investment mix for your financial situation, we will also do it with the lowest-cost share class we can access.
Rolling your pre-tax 401(k) account to a Traditional IRA allows you to continue receiving the tax benefits associated with a tax-advantaged retirement account. Similarly, rolling your Roth 401(k) balance to a Roth IRA continues the tax-free growth and distributions available to Roth accounts.
Many individuals end up with numerous retirement accounts. Consolidating these accounts to an IRA can ease the burden of managing your retirement savings across multiple accounts in multiple places.
Rolling over to a Traditional IRA opens the possibility of converting to a Roth IRA. This can be a complex situation as it involves paying taxes on the converted balance now instead of as the money is distributed from a pre-tax retirement account. If it is done with the right timing, the benefits can be substantial. We’ll help you find out if and when this makes sense for your financial situation.
Connect with Heartland Trust today to secure your financial future.