401k & Rollover IRA in Melbourne, FL

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401k and Rollover IRA in Melbourne, FL

When it comes to growing your money over the long term, studies have shown that tax advantage is a major benefit, which is why tax-advantaged Individual Retirement Accounts (IRAs) and 401(k)s are so popular when it comes to saving for retirement. But one of the most important aspects of owning an IRA or 401(k) is knowing the best ways to approach taking income or withdrawals from those accounts. If you don’t know the rules, you can end up paying more in taxes than is necessary.

Learn How to Move Your Old 401(k) Into a Rollover IRA

When it comes to taxation, there are basically three different types of investments: 1) regular taxable investments; 2) tax-free investments like Roth IRAs; and 3) tax-deferred investments like traditional IRAs and 401(k)s, which are taxable when you decide to withdraw your funds.

Taking advantage of the tax benefits that IRAs and 401(k)s provide can help boost the amount of income your investments can generate in retirement. However, since tax codes are constantly changing, you must make sure to keep up with the changes.

Through our tax minimization strategies, we can advise you on some of the best ways to withdraw funds from your qualified retirement accounts to help maximize the tax advantages offered by each one.

One of the services we offer that can help you maximize the tax advantage includes rolling over a 401(k) to an IRA. Doing so can not only provide you with access to more investment options, but it can also help to lower the fees you pay.

IRA Rollover to Roth IRA

Converting a 401(k) or regular IRA to a Roth IRA is another strategy that may provide certain tax benefits. For example, you could convert some funds in a qualified retirement account, like a 401(k), to a Roth IRA ahead of retirement. Although you’ll still owe taxes on the amount you convert, you won’t have to pay taxes on withdrawals you make later in retirement.

Schedule Your 401(K) and Roth IRA Consultation Today

Give our office a call to schedule a complimentary consultation with one of our advisors so we can answer any IRA or 401(k) questions you might have, such as:

  • What is the cost to roll over a 401(k) to a Roth IRA?
  • What is the best time to convert a 401(k) to a Roth IRA?
  • Can I transfer my 401(k) to an IRA while still employed?

Arbor Financial Services of Florida is a full-service financial firm dedicated to helping those in the Melbourne, FL area meet their long-term financial goals. Our team of financial advisors and wealth managers are experienced in helping clients preserve their savings, so they can use it as a source of steady income in retirement.

All written content on this site is for informational purposes only. Opinions expressed herein are solely those of Arbor Financial Services,  and our editorial staff. Material presented is believed to be from reliable sources; however, we make no representations as to its accuracy or completeness. Investing involves risk. There is always the potential of losing money when you invest in securities. Asset allocation, diversification and rebalancing do not ensure a profit or help protect against loss in declining markets. All information and ideas should be discussed in detail with your individual advisor prior to implementation. The presence of this website, and the material contained within, shall in no way be construed or interpreted as a solicitation or recommendation for the purchase or sale of any security or investment strategy. In addition, the presence of this website should not be interpreted as a solicitation for Investment Advisory Services to any residents of states where otherwise legally permitted to conduct business. Fee-based financial planning and Investment Advisory Services are offered by Sound Income Strategies, LLC, an SEC Registered Investment Advisory firm. Arbor Financial Services and Sound Income Strategies  are not associated entities. Arbor Financial Services is a franchisee of Retirement Income Source. Retirement Income Source and Sound Income Strategies are associated entities. © 2023 Arbor Financial Services

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