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Cashing out is deceptively attractive. You look at your statement and see a big bottom-line number. You can think of things you could do with that, right? But, hold on. This option will cost you more than you'd expect.
Before all is said and done, you're apt to lose a huge chunk, both short and long-term.
It's never smart to pull up stakes in haste. Just because you're no longer employed there doesn't mean you can't continue to make your old 401(k) work hard for you.
Weigh the Pros and Cons
A) Move to a New Employer Plan
B) Move to an IRA
Why move to an IRA?
For help in finding out the best option for you contact Joanna Moran today!
Before you jump from your present plan, make sure what you're jumping to represents a better value...in terms of investment options, flexibility, and/or fees.
If you determine rolling over makes the most sense...compare your new employer's plan to either a traditional or Roth IRA before you make a move. Consulting with your financial and tax advisors is highly recommended.
For a comprehensive review of your personal situation, consult your tax advisor. Neither Cetera Advisor Networks nor any of its representatives may give tax advice.