Ask Fidelity with Sarah Walsh VP, Retirement …

1 Ask Fidelity with Sarah Walsh VP, Retirement solutions I just got a new job. What should I do with my old 401(k)? Many people have questions about what to do with the savings in an old 401(k). Generally, you have four different options. The first is not one we would suggest. And that is taking the money in cash. Not only will you owe taxes on the money, you ll also owe a 10% penalty, if you re under the age of 59 , so let s that take that one off the table. That leaves us with three other options. As long as you have more than $5k in your account, you can leave the money right where it is. You could also think about rolling the money into your new employer s plan, as long as the plan allows. Finally, you can consider rolling into an IRA, or an individual Retirement account. There are several considerations you want to think about when deciding which account is right for your savings.

2 You want to look at any fees and expenses associated with the accounts. You ll also want to think about investment options. Your employer plan might offer you unique or specially priced options that are only available in the plan, where in an IRA, you generally have access to a wider range of investment options than available in your plan. You ll also want to think about any services or features associated with the accounts, such as investment guidance or access to online trading capabilities, if those things are important to you. There are a few other considerations, which only apply in certain circumstances, such as if you need access to the money or if you re approaching age 70 and need to start thinking about taking required distributions. You ll also want to consider if you have highly appreciated company stock, or for some people, creditor protection is important.

3 If any of those apply to you, you ll definitely want to talk to somebody. As you can see, you do have options for money left in an old 401(k). The good news is we can help you make the best decision for your Retirement savings. Just give us a call or go online. For more information: | 800- Fidelity And to view more answers to your Retirement questions, go to Important Information Fidelity Brokerage Services LLC, Member NYSE and SIPC. 900 Salem Street, Smithfield, RI 02917