How to Rollover Your 401k An Alternative Prospective

A typical 401K rollover is not an uncommon thing these days, but it is a necessary step to take if you have funds sitting in a 401K that you no longer contribute to from a former employer, or you simply want more control over your investment options. Of course, the most common cause for needing to execute a 401K rollover would be because you are changing jobs, but also you might want to execute a rollover if you simply wish to have more control of your investment options, such is the case when you are in a real estate IRA.

First Step

The first step to take when rolling over your 401K is to determine what type of IRA you want to rollover into. You can rollover your 401K to any kind of eligible retirement account that you choose, including a standard IRA, ROTH IRA, or even a real estate IRA. The type you choose would depend on your particular set of circumstances, but it should be noted that the real estate IRA is a type of self directed IRA in which you have the ability to invest in real estate directly inside your account.

Seek Control – Even While Still Employed

Some people wish to have full control over their investments with a real estate IRA, but think they are stuck in their 401K as they are still employed at a certain place of business. This is a common misconception, but you can sometimes still execute a 401K rollover even while still employed. However, there may be certain rules and regulations you must follow. You can find out your options by speaking with the HR department where you are currently employed.

Do-it-Yourself Rollover or Seek Help

A common question is whether it is better to go about a 401K rollover in a do-it-yourself manner, or by seeking the advice of those a bit more in the know. While you can do it on your own, it’s a better idea to allow a professional to work with you.

A professional will not only be able to layout all the pros and cons of the various types of IRAs, but also they will be able to ensure your rollover goes as smoothly as possible. While you might not think so, there are many intricate processes that go with properly rolling over a 401K, especially if you want to get invest your future IRA in real estate properties. So, to be certain you rollover your 401K in a way that best suits your individual needs, a pro’s help is the way to go.

Call 877-339-4559 for more information on real estate IRAs.

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