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"In the investment business, you go to school every day, but never graduate." - Don Hodges

401K: To Roll or Not to Roll

by Alan Ebright, on Jun 2, 2021

Job Changes and Investment Options

To say that the past 18 months was crazy could be the understatement of the century. We had to change the way we worked, educated our children, and interacted with friends and family. Sadly, some of us might have been laid off and stuck with the stresses of searching and finding a new job. Trying times to say the very least.

If you have had that job change, and you’re going through the transition process, it is wise to remember your 401k account and the options you have. For the most part, a new employer will allow you to rollover the 401k from your former employer directly into the new company’s plan. While some folks opt to do this, others might want to explore options. When the balances are now very large and the closer to retirement one is getting, it might be a worthwhile exercise.

Some of the reasons for exploring change:

  • My new plan has limited offerings
  • The market seems to have done really well and I feel my balances aren’t where they should be
  • I’ve accumulated a pretty significant amount and want to weigh options
  • I no longer want the responsibility of making my own investment decisions
  • I’m getting closer to retirement and having a professional advisor might make sense

The process of rolling a 401k into an IRA is simple. There are no tax consequences triggered when doing this type of rollover. Whatever your personal case might be, getting a professional opinion might be helpful. This is also a normal course of action as one is getting closer to retirement.

Here at Hodges we can help you plan out a course to retirement and beyond!

Hodges Capital Management, Inc. is a Federally Registered Investment Advisory Firm registered with the SEC.  The above discussion is not intended to be a forecast of future events, a guarantee of future results, and should not be considered a recommendation to buy or sell any securityPast performance is not indicative of future resultsInvesting involves risk. Principal loss is possible. Investing in smaller companies involves additional risks such as limited liquidity and greater volatility. No current or prospective client should assume that information referenced in this communication is a recommendation to buy or sell any security. Different types of investments involve varying degrees of risk. No client or prospective client should assume that any information provided is a substitute for personalized individual advice from the adviser or any other investment professional. This document was created for informational purposes only and the opinions expressed are solely those of Hodges Capital Management, Inc.

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