* Withdrawals from your qualified plan are taxed as ordinary income and may be subject to a 10% Federal tax penalty if taken prior to age 59½. If you left your employer in or after the year in which you turned 55, you may not be subject to the 10% early withdrawal penalty. There are other limited situations when the 10% early withdrawal penalty may be waived, including but not limited to, permanent disability and medical expenses greater than 7.5% of your adjusted gross income. Please contact an investment, financial, tax, or legal advisor regarding your specific situation.
**The 10-year average rate of return for the S&P 500 Index was 10.68% as of August 24, 2018. During the same period, the Dow Jones Industrial Average was 11.17%.
Source: © 2018 Morningstar, Inc. All rights reserved. Dow Jones Industrial Average and S&P 500 quotes are real-time. Past performance is no guarantee of future results. You cannot invest directly in an index.
Please keep in mind that rolling over your qualified employer-sponsored retirement plan (QRP) to an IRA or transferring your IRA assets to a new IRA is just one option. Each option has advantages and disadvantages, and the one that is best depends on your individual circumstances. You should consider features such as investment options, fees and expenses and services offered. Investing and maintaining assets in an IRA will generally involve higher costs than those associated with a QRP. We recommend you consult with your current plan administrator or current IRA custodian/trustee before making any decisions regarding your retirement assets.
The financial calculator results shown represent analysis and estimates based on the assumptions you have provided, but they do not reflect all relevant elements of your personal situation. The actual effects of your financial decisions may vary significantly from these estimates - so these estimates should not be regarded as predictions, advice, or recommendations. This information does not constitute an application, offer or commitment by Wells Fargo & Company, or a representation of interest rates, investment performance or any other future performance. The accuracy of this calculator and its applicability to your circumstances is not guaranteed. You should obtain personal advice from qualified professionals.
Examples are for illustration purposes only. Estimates are based on the assumptions noted, do not guarantee or imply a projection of actual results, and do not include the effect of fees and taxes. Wells Fargo Institutional Retirement & Trust cannot guarantee results under any savings or investment program and cannot guarantee that you will meet your retirement savings goal.
Wells Fargo is not a tax advisor.
Recordkeeping, trustee, and/or custody services are provided by Wells Fargo Institutional Retirement & Trust, a business unit of Wells Fargo Bank, N.A., a bank affiliate of Wells Fargo & Company.
This information and any information provided by employees and representatives of Wells Fargo Bank, N.A. and its affiliates is intended to constitute investment education under U.S. Department of Labor guidance and does not constitute "investment advice" under the Employee Retirement Income Security Act of 1974. Neither Wells Fargo nor any of its affiliates, including employees, and representatives, may provide "investment advice" to any participant or beneficiary regarding the investment of assets in your employer-sponsored retirement plan. Please contact an investment, financial, tax, or legal advisor regarding your specific situation. The information shown is not intended to provide any suggestion that you engage in or refrain from taking a particular course of action.
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