How to rollover 401k?

You have a few options when deciding where to rollover your 401k. If you choose jazzWealth we'll make it super simple for you, but know that you do have other options as well (highlighted below).

• Rollover to an IRA or Roth IRA (that would be jazz)
• Rollover to your new 401k
• Cash it out (not very smart)
• Leave assets in former employer's plan (if permissable)

Other factors to consider when making a rollover decision include (among other things) the differences in: (1) investment options, (2) fees and expenses, (3) services, (4) penalty-free withdrawals, (5) creditor protection in bankruptcy and from legal judgments, (6) required minimum distributions or “RMDs,” (7) the Tax Treatment of Employer Stock, and (8) the availability of plan loans (e.g., loans are not permitted from IRAs, and the availability from an employer’s qualified retirement plan will depend on the terms of the plan.)

We suggest speaking with a tax professional about your specific situation prior to making a decision. Steward Partners, its affiliates, and Jazz Wealth do not provide tax or legal advice.

Roth IRAs: tax-free withdrawals of earnings are permitted five years after the first contribution that created the account. Once the five-year requirement is met, distributions, if taken, will be free from federal income taxes: (1) after age 59½; (2) on account of disability or death; or (3) to pay up to $10,000 of the expenses of purchasing a first home. Withdrawals that do not meet these qualifications will be subject to ordinary income taxes and a 10% federal tax penalty.