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Category: 401(k)

Your 401(K) Isn't Your Only Option

Your 401(K) Isnt Your Only Option

Posted By Lineweaver Financial Group
October 03, 2017 Category: IRA, 401(k), Retirement, Retirement Planning

You’ve heard it over and over again, from many places –  never, ever make an early withdrawal from your 401(k), unless it’s an emergency.  And, we agree - that’s often good advice.  But there are a few exceptions where an early withdrawal may be to your advantage. Some companies allow active employees participating in a qualified employer-sponsored retirement plan to withdraw a portion of their account balance upon request, without demonstrating a specific financial need, usually at age 59 ½. This is called an in-service, non-hardship withdrawal. One reason you may want to consider this option is that by rolling over a portion of employer-sponsored retirement plan assets to a rollover IRA, you may be able to significantly expand your investment choices, especially if you have limited choices in your employer-sponsored retirement plan.  401(k)s typically offer limited fund options to participants.  Spreading the risk among a group of investments is generally a good thing when saving for the long term.  But this usually means you miss the opportunity on select investments. Outside of your 401(k), you could invest in specific sectors that may have greater long-term growth potential, like healthcare.  You could move into investments that will have lesser impact with anticipated rising interest rates, like limited-duration bond funds. You could look at alternative investments, like real estate, gold and other com

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