Incompass Financial Partners logo

4994 Lower Roswell Road NE, Suite 4, Marietta, GA 30068

 

Phone:  770-971-9141

 

Email: ifp@incompassfp.com

September/October 2022

Saving for Your Retirement in a Job-hopping World

When you change jobs, you’ll have to decide what to do with your retirement funds, including money you contributed and vested company contributions.


Leaving a job before you’re vested in your employer’s retirement plan can deprive you of contributions your employer made to your account. Here are some options that are typically available:

Cash Out Your Account
Your employer will send you a check for the balance, minus any required tax withholding. If you keep the cash, income taxes may be due. Rules apply, so consult professionals.


Leave it There
This might be a good option if you have a substantial account balance and like the plan’s investment choices, or if your new employer does not offer a similar plan.


Move Money to Your New Employer’s Retirement Plan
Transfer the funds directly to your new account and you’ll avoid tax withholding and delay paying potential taxes and penalties.


Roll Over to an IRA
An IRA may give you a wider range of investment options than you’d have in your employer’s plan, and you’d have full control.


SUBSCRIBE

Enter your Name and Email address to get
the newsletter delivered to your inbox.

Please include name of person that directed you to my online newsletter so I can thank them personally.


CONTACT US

Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.

Securities offered through Triad Advisors, LLC., Member FINRA/SIPC. Advisory Services offered through Incompass Financial Partners, LLC. Incompass Financial Partners, LLC. is not affiliated with Triad Advisors, LLC.
Incompass Financial Partners, LLC and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.