Rollover 401(k) in Imperial, MOProfessional, Honest, and Experienced Retirement Planners and Financial Advisors
Rollover 401(k) in Imperial, MO. While moving to a new job can be a welcome change, it can also lead to uncertainty about the best way to manage the savings you have in your 401(k) account with your previous employer. Many Imperial, MO residents don't have the time, knowledge, or interest to manage multiple retirement accounts or to understand the best way to approach a 401(k) rollover. At Correct Capital, our dedicated team of 401(k) specialists and retirement consultants will help you determine what makes the most sense for you. For rollover 401(k) services in Imperial, MO, reach out to us today at 877-930-4015 or contact us online.
Rollover 401(k) Options in Imperial, MO
Typically, you have four options when considering whether to roll over your 401(k). A qualified Imperial, MO financial advisor like those at Correct Capital will be able to look at your financial situation and help you determine which option is best for you. Depending on your specific circumstances, we may advise to:
- Leave the money in your former employer's 401(k) plan;
- Roll over your 401(k) to your new employer's 401(k);
- Roll over your 401(k) into a Traditional IRA or Roth IRA;
- Cash out your 401(k).
Cashing out should only be considered if you need funds quickly. Your previous employer will have to take out 20% of the balance for tax purposed. Depending on how close you are to retirement, the IRS may also withhold a 20% early withdrawal penalty, and you would potentially pay even more in federal, state, and local taxes. Meaning, you could potentially lose more than half of the account's value.
It is important to note that companies in Imperial, MO are allowed to make you move the money if your account has less than $5,000 in it. Lastly, they may be able to cash out your account if the balance is less than $1,000.


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Benefits to Rolling Over a 401(k) into an IRA in Imperial, MO
Your Imperial, MO financial advisors at Correct Capital may recommend rolling over your 401(k) into an Individual Retirement Account (IRA). This is beneficial for several different reasons:
Take Advantage of Special Rules if You Have Publicly Traded Company Stock in Your 401(k)
Net unrealized appreciation (NUA) is the increase in value between the cost basis and current value of shares of employer stock in your retirement plan. If part of your 401(k) includes company stock, you can transfer that portion of your account into a standard brokerage account, and roll the other funds to an IRA. In doing so, you may pay long term capital gains tax on the shares — which caps out at 20% for the highest earners — rather than income tax, which is often higher.
Pick Your Own Custodian
When you opt to put your savings in a 401(k), the money will be held by the 401(k) company your employer chooses. By rolling over to an IRA, you'll be able to choose your preferred institution based on how secure they are and the range of services they offer.
More of Investment Opportunities
While some Imperial, MO companies provide 401(k) plans with few limitations on your investment options, IRAs typically offer an individual investor many more options than 401(k) plans. In an IRA, you can invest in any number of assets, including:
- Shares
- Bonds
- Certificates of deposit
- Mutual funds
- ETFs
- Real estate investment trusts
- Annuities
Combine Your 401(k) Plans
If you have various 401(k) plans with previous employers, there are many advantages to combining the funds from all your accounts into one account. That way, you much much more efficiently follow how your investments are growing and managing them will be more streamlined. It may also be the better option for long-term growth.
Keep Contributing to Your Accounts
While you can still reap the benefits of the investments and savings that are already there, you won't be able to add funds to a 401(k) plan with your previous employer. If you roll the funds out of your old employer's plan, you will be able to supplement your savings.
The financial advisors of Correct Capital will help you decide if a 401(k) rollover is the best option for you. We have more than two decades of experience assisting both individuals and business owners in Imperial, MO with numerous 401(k) services. When you hire Correct Capital, we'll help you navigate important considerations, for instance how a 401(k) rollover will affect your tax planning.
Why to Avoid a 401(k) Rollover in Imperial, MO
Every person's finances vary, and your Imperial, MO retirement planners at Correct Capital may recommend that your investments are best kept in a 401(k) plan; whether that be your an old plan or rolling them over into a new one. Some reasons to choose a 401(k) plan over an IRA are:
- If you like the benefits of your current 401(k) plan. If the fees are fair and the return on investment is good, it may be your best option to keep your savings where they are. If the account stops giving you strong returns or you change your mind for a different reason, you can still roll over your 401(k) at any time.
- No early withdrawal fees if you are 55. While both 401(k)s and IRAs allow for withdrawals when you are 59½, the threshold in a 401(k) for a 10% early withdrawal fee is 55. So, a 401(k) may be preferable if you would like to retire a few years early.
- Loans from an IRA are not allowed. While typically not recommended, if you are in a situation where you need to take out a loan from your retirement savings, it is important to mention that you cannot take a loan out of an IRA.
- Your employer may match your 401(k) contributions. While some employers will allow you to roll money out of your 401(k) to an IRA before retirement, it may make more sense to stick with a 401(k) your employer will match your contributions.
See some of the other services we offer in Imperial, MO:

Rollover 401(k) in Imperial, MO | Correct Capital
At Correct Capital, we treat each client individually and get to know them so we can help them achieve their goals. Our team of retirement consultants, portfolio managers, and financial planners have nearly a century of combined experience assisting Imperial, MO individuals and families with 401(k) rollovers in addition to several other wealth management services. As fiduciary advisors, we are legally and ethically bound to oversee your account in a way that benefits you and only you. As an independent firm, we will always be straightforward and unbiased, and there are no restrictions to the services or investment options we can recommend.
Give us a call today at 877-930-4015 or contact us online to schedule an appointment with one of our experienced 401(k) experts and retirement consultants today.