5 Financial Things You Don’t Want To Do – 5 part series

#1 Cracking your nest egg before retirement

A recent study by Hewitt Associates finds that 45% of workers cash in their 401ks when they switch jobs – meaning they pay taxes and a 10% penalty if they’re not 59 1/2 yet. I recommend that you roll that into an IRA or transfer it into a new company plan. The IRA will offer more choices and fewer restrictions than a corporate plan, but it’s important to seek out professional guidance as it’s easy to get penalized.

Securities offered through LPL Financial, Member FINRA/SIPC. Advisory services offered through Wealth Enhancement Advisory Services, a registered investment advisor.

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