James Mayer:

Hello, my name is James Mayer. I'm what the Huffman Mayer Paolo Wealth Management Group of Wells Fargo Advisors. Thank you so much for tuning in to watch our video on retirement plan rollovers.

A question we often hear is, "What options do I have for my retirement savings after I've left my employer?" In this video, I'll discuss the options available to you and I'll share some useful resources to help you make your decision. Anytime you change employers, leave a job, retire, you have a big decision to make regarding the retirement balance in your former employer's qualified retirement plan. More commonly known as a 401k or 403b. You generally have four options. Each of which has implications for your income and retirement.

Number one, you can rollover your assets into an IRA. Number two, you could leave your assets in your former employer's qualified retirement plan if that plan allows you to. Number three, you can move your 401k balance into your new employer's qualified retirement plan if that plan allows you to. And number four, you could take your money out and pay the associated taxes.

Each of these options has advantages and disadvantages. And the one that is best depends on your individual circumstance. You should consider features such as investment and choices, fees, expenses, and other services offered. It is important that before you make a decision that you, number one, inform yourself of all options available to you. Number two, talk with a financial advisor who can help you make a plan that takes into account your whole financial picture. Number three, speak with your retirement plan administrator.

We are happy to help educate you regarding your choices so you can make a decision which option makes the most sense based on your specific situation. We'd love to share a copy of our free comprehensive report options for your retirement plan savings. And of course, we're happy to schedule a call or a video meeting to review your specific situation and help you make an informed decision that aligns with your goals.