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please Call Us Toll-Free at 1.888.333.4641 or complete the
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no obligation service and we respect your privacy.
Quick Facts About 401k Plans
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Do you have multiple 401k plans from a few employers? We
can help you roll them together.
get more info...
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Getting a new job? We can easily help you transfer your
401k to your new employer.
get more info... |
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401k
Rollover to Roth IRA Services
Roth IRAs are tax-favored financial vehicles that
enable investors to save money for retirement. They
differ from traditional IRAs in that taxpayers cannot
deduct contributions made to a Roth. However, qualified
Roth IRA distributions in retirement are free of federal
income tax and aren’t included in a taxpayer’s gross
income. That can be advantageous, especially if the
account owner is in a higher tax bracket in retirement
or taxes are higher in the future.
A Roth IRA is subject to the same contribution limits as
a traditional IRA ($4,000 in 2007 and $5,000 in 2008).
Special “catch-up” contributions enable those nearing
retirement (age 50 and older) to save at an accelerated
rate by contributing $1,000 more than the regular annual
limits.
Another way in which Roth IRAs can be advantageous is
that investors can contribute to a Roth after age 70½ as
long as they have earned income, and they don’t have to
begin taking mandatory distributions due to age, as they
do with traditional IRAs.
Roth IRA withdrawals of contributions (not earnings) can
be made at any time and for any reason; they are
tax-free and not subject to the 10% federal income tax
penalty for early withdrawals. After a minimum five-year
holding period but before age 59½, tax-free and
penalty-free withdrawals of earnings can be made due to
a qualifying event, such as death or disability or to
purchase a first home (up to a $10,000 lifetime cap).
Although college expenses are not a qualifying event,
Roth IRA account owners can withdraw earnings
penalty-free for qualifying higher-education expenses
(for the account owner, a spouse, a child, or a
grandchild). However, these withdrawals would be subject
to ordinary income tax.
To qualify for a tax-free and penalty-free withdrawal of
earnings in retirement (after age 59½), a Roth IRA must
have been in place for at least five tax years.
Keep in mind that even though qualified Roth IRA
distributions are free of federal income tax, they may
be subject to state and/or local income taxes.
Eligibility to contribute to a Roth IRA phases out for
taxpayers with higher incomes.
If you’re looking for a retirement savings vehicle with
some distinct tax advantages, the Roth IRA could be
appropriate for you.
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401k Rollover Retirement Planning Tips
and Tools
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Cross Financial Management is a full-service
financial planning and consulting firm dedicated to
helping our clients build wealth and protect their
hard-earned assets. We specialize in 401k plans, though
provide an array of solid services. Our firm is
completely independent, so our loyalty belongs
exclusively to our clients -- not to a parent company.
Our independence enables us to establish working
relationships with a number of industry-leading
brokerage firms and insurance providers whose products
we leverage to create customized client portfolios. We
recommend only those products and services that can be
tailored to suit our clients' unique needs
For more information on how we can best assist your 401k
rollover and IRA rollover needs, please fill out
the short contact form above or call us at
1-888-333-4641.
* The information on this
page is for informational purposes only and does not
constitute, and should not be construed as,
professional, legal or tax advice. To determine your
individual tax situation and specific needs, please
consult a professional tax advisor.
* Information contained in these sections merely
highlight some benefits. There are risks involved with
all investments that could include tax penalties and
risk/loss of principal.
State Disclosure - The LPL Financial representative
associated with this website may discuss and/or transact
securities business only with residents of the following
states: AK, AR, AZ, CA, CT, FL, HI, ID, IN, MN, MT, NC,
NH, NJ, OH, OR, TX, VA, WA
Advisors will become registered in the respective state,
prior to any direct communication with perspective
customers, who are located in states in which the
advisor is not registered
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A 401k rollover occurs when you retire or change
employers and then choose to move or "rollover" your 401k into a
new IRA. This process of relocating a 401k at your previous job
into an IRA is referred to as a 401k Rollover.
