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Consolidating Retirement Plan Assets

Consolidating Retirement Plan Assets

| October 25, 2022

You may find that you’ve accumulated quite a few workplace retirement accounts over the years, and thanks to favorable tax laws, those accounts could be as mobile as you are. In this episode, I’ll share some important things to look into when it comes to multiple accounts and share ideas on how to consolidate them in the best way possible.

It can be daunting trying to figure out what to do with all of the accounts and figure out how to get them working for you, but I’ll share some tips and tactics to make that simple. You will hear about the pros and cons of consolidation and how the situation often varies depending on the type of job and the account structure they have set up for their employees. This is such an important topic to explore because it will have an effect on the size of your nest egg and the type of retirement you get to have.

Listen To The Episode Here:

What You’ll Learn:

  • Why you might want to consider consolidating retirement assets.
  • Why some accounts may not be favorable for consolidation.
  • Why it’s important to consult a professional when handling your retirement accounts.
  • Distributions, transfers, and the penalties that come along with it.
  • The benefits of rollovers and how they work.
  • Protections involved with your retirement accounts.

Ideas Worth Sharing:

“Simplifying these assets will help you simplify your life and take better control of your financial future.” - Regina McCann Hess

“Keep in mind that each retirement plan may have different rules concerning employees’ access to money and the acceptance of assets from previous employers’ tax accounts.” - Regina McCann Hess

“How you handle your retirement assets could impact the size of your nest egg and the type of retirement you can enjoy.” - Regina McCann Hess


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