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Is Your 401(k) Being Cared For?

If it's not, it needs to be. Like your health, neglecting your wealth can result in serious consequences. If you have gone through a job change without rolling over your 401(k) plan, chances are it's not being properly nurtured. Your retirement savings is probably one of your biggest assets, and you want to make sure it's performing its best.

Here are 5 Benefits of Rolling Over Your 401(k) Plan

1. Simplified Finances

As you change jobs over the course of your career, you’re also likely to participate in the 401(k) plan that each employer offers. You may find yourself juggling numerous different plans, each with its own set of complexities. Simplify your finances by combining multiple accounts from previous employers into one professionally managed account.

2. Customization

With an employer-sponsored retirement account, there’s typically a similar portfolio offered to everyone. When you choose to rollover that 401(k), you might gain access to a wider range of investment options including stocks, bonds, mutual funds, index funds, annuities and others that allow you to tailor your investments to your personal risk tolerance. Sunmark Credit Union’s Life Stage Advisory will work with you to create a customized plan based upon your unique needs and goals.

3. Personalized Service

Trying to gain access to information about your plan by going through a previous employer may be a challenge down the road and you may not be able to get the advice you want. Life Stage Advisory offers personalized, local service with responsive financial advisors. You can also choose to meet face-to-face with a Life Stage Advisory professional at your nearest Sunmark Credit Union branch.

4. Tools & Options

Enjoy added benefits like expanded investment options and more opportunities to diversify your portfolio. With Life Stage Advisory, most types of investment options are available – including individual stocks, bonds and exchange traded funds (ETFs). With more access to tools and strategies, you are better prepared to limit losses and maximize growth.

5. Dedicated Advisors

Gain peace of mind by working directly with a Financial Advisor who is accessible, supportive and consistently monitors your account. A dedicated advisor will meet with you to review your progress, design an investment mix appropriate to your needs, and periodically review your 401(k) to ensure that you are on track to meet your goals. With a knowledgeable Financial Advisor overseeing your plan, you are more likely to maximize growth and minimize loss.

It’s important to carefully consider where to put the retirement assets you’ve worked so hard to build up. The wrong move can cost you in taxes, penalties, and fees. Rolling over and reinvesting your retirement plan assets in an IRA or another vehicle that allows the long-term tax-deferred growth of your savings - this gives you direct control of the savings that were once in your retirement plan and allows you to position them in the way that you prefer for maximized growth and retirement income.

Sunmark Credit Union's Life Stage Advisory services can help you. Our financial advisors are dedicated to helping you make the most of your money and ensuring that you are on track to achieving your financial goals.

Contact Life Stage Advisory today! Visit sunmark.org/investments or give us a call at 518.730.9040.

Prior to requesting a rollover from your employer sponsored retirement account to an Individual Retirement Account (IRA), you should consider whether the rollover is suitable for you. There may be important differences in features, costs, services, withdrawal options and other important aspects between your employer sponsored retirement account and an IRA.

Sunmark Life Stage Advisors are registered representatives of CUNA Brokerage Services, Inc. Representatives are registered, securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member  FINRA / SIPC , a registered broker/dealer and investment advisor, which is not an affiliate of the credit union. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution. CUNA Brokerage Services, Inc. is a registered broker/dealer in all fifty States of the United States of America. FR-3411481.1-0121-0223