A Wells Fargo Retirement Professional can help you assess how the current market impacts your retirement assets, provide steps to help keep you on track, and decide whether to consolidate your retirement accounts into a Wells Fargo IRA.
Why a Wells Fargo IRA? There are many benefits, including:
- Convenience — access and manage all your accounts online in one convenient location.
- Flexibility — gain access to a wide range of investment choices.
- Tax-deferred savings* — maximize the growth potential of your retirement funds tax-deferred.
- Experience — Wells Fargo is one of the nation's largest IRA providers and has been helping people plan for retirement for over 160 years.
Schedule your complimentary consultation with one of our Retirement Professionals today to review your retirement goals and bring your financial picture into sharper focus.
Request a Consultation Or call 1-877-289-9744
Please keep in mind that rolling over assets to an IRA is just one of multiple options for your retirement plan. Each of the following options is different and may have distinct advantages and disadvantages:
a) Roll assets to an IRA
b) Leave assets in your former employer’s plan, if plan allows
c) Move assets to your new/existing employer’s plan, if plan allows
d) Cash out or take a lump-sum distribution
When considering rolling over assets from an employer plan to an IRA, factors that should be considered and compared between the employer plan and the IRA include fees and expenses, services offered, investment options, when penalty free withdrawals are available, treatment of employer stock, when required minimum distributions begins, and protection of assets from creditors and bankruptcy. Investing and maintaining assets in an IRA will generally involve higher costs than those associated with employer-sponsored retirement plans. You should consult with the plan administrator and a professional tax advisor before making any decisions regarding your retirement assets.
*Traditional IRA distributions are taxed as ordinary income. Qualified Roth IRA distributions are not subject to state and local taxation in most states. Qualified Roth IRA distributions are also federally tax-free provided a Roth account has been open for at least five years and the owner has reached age 59½ or meets other requirements. Both may be subject to a 10% Federal tax penalty if distributions are taken prior to age 59½.