retirement accounts

Stay or Roll: When to Put a 401(k) Into an IRA

Posted on 06/26/2014 by |AARP Blog Author | Comments

Money & Savings | Your LifeBloomberg News recently wrote about brokers profiting by advising retirees to roll their 401(k) accounts into IRAs. Many of the retirees interviewed said they lost a lot of their savings from investments subsequently recommended to them. But this doesn’t mean you shouldn’t consider transferring your 401(k) money into an individual retirement account (IRA). Here’s how to decide: First, a little background. A 401(k) account is an employer-sponsored plan that allows the employee to save and invest, typically receiving a tax benefit when the contribution is …