Leaving Your Job? Don’t Leave Your 401(k)

If you’re getting ready to leave a job, you might be considering cashing out your 401(k) retirement plan. But in addition to losing the benefits your 401(k) plan offers, depending on your age, you’ll likely have to pay a penalty for early withdrawal in addition to paying income tax on the money you receive from cashing out. To avoid these outcomes, it’s important to know what other options are available to you, including not rolling your money out.

Moving your money to your next job

If you’re leaving your current job for another company, check and see if the new company offers a 401(k) plan and that they accept rollovers. If they do, the administrator at your old company can help you move the money to the new employer’s 401(k) plan once you enroll. There are two different ways you can do this.  You can either do a … Read more

6 Essential Estate Planning Documents

Figuring out what would happen to your loved ones if something happened to you may seem stressful and time-consuming. But if you want a say in who gets what — and most importantly who cares for your kids (or your pets) — then you need an estate plan.

You may think you don’t need one because you don’t have a big enough “estate” or because you’re too young, but the fact is that most people should have an estate plan. That doesn’t mean it has to be complicated, though.

We’re here to simplify the topic and provide you with a checklist to help get this very important item crossed off of your to-do list.

What is an estate plan?

An estate plan is an umbrella term that covers many different documents, all designed to:

  • Distribute your assets and property after you’re gone
  • Make your wishes known
  • Facilitate your care in
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