LM Finance’s Post

One of the benefits of SECURE 2.0 is Roth balances are no longer subject to Required Minimum Distributions once you're in your 70's. This makes the mega-backdoor Roth and in-plan Roth conversions strategies even more attractive if your company 401k plan allows.

On the fence about rolling over your 401(k) from a previous employer? Today's blog explains... 👇 💵 The benefits of a rollover ✅ Your various rollover options 💡 Important tips to keep in mind Weigh your options and consider the best course of action for you. https://lnkd.in/efpfK2jN

When it comes to leaving your 401(k) with your former employer... Think of it as leaving your belongings at your ex's place after a breakup, even though you're now separated. Does that sound a bit odd? In this blog, we discuss nine reasons why you might want to contemplate converting your 401(k) to a rollover IRA when transitioning away from your employer. https://lnkd.in/gk_-H4nA

It’s important to know that Mega Backdoor Roth is financial slang—you won’t see it described this way on your company’s 401(k) website—and not every company’s 401(k) plan has the features needed to allow you to use it. To determine if it’s an option for you, you’ll want to look on the company’s 401(k) website for three features. https://lnkd.in/g4xQaMgJ

It’s important to know that Mega Backdoor Roth is financial slang—you won’t see it described this way on your company’s 401(k) website—and not every company’s 401(k) plan has the features needed to allow you to use it. To determine if it’s an option for you, you’ll want to look on the company’s 401(k) website for three features. https://lnkd.in/g5kCX-Ud

CROSSBORDER SCENARIO: 401(k) to IRA Stewy's recent breakup led him to leave his belongings at his ex-partner's place, a decision that may raise eyebrows. Similarly, leaving your 401(k) with your former employer after leaving the job might seem peculiar. In our blog, we discuss nine compelling reasons why converting your 401(k) to a rollover IRA upon leaving your employer could be beneficial: -Expanded Investment Options -Greater Control Over Investments -IRA Custodianship -Enhanced Communication -Reduced Fees and Expenses -Opportunities for Roth IRA Conversion -Simplified Management of Required Minimum -Distributions (RMDs) -Clearer and More Streamlined Rules -Advantages for Estate Planning https://lnkd.in/gAvqqpfJ

One key change is the elimination of the required minimum distributions (RMDs) for designated Roth 401(k) accounts.

One key change is the elimination of the required minimum distributions (RMDs) for designated Roth 401(k) accounts.

Should you roll over your old 401(k) into an IRA? There are many benefits to doing so including expanded investment options, convenience of aggregating assets into one IRA and flexibility with distributions. Let us know if you want to learn more about 401(k) rollovers. #irarollover #401k

#didyouknow if your employer terminates their SIMPLE IRA and establishes a new 401(K) Plan, you can rollover over those funds without the 2 year waiting period? This article provides additional details concerning this new rule. #401kplans #401k