When you leave a job, you often have a 401(k) account with your former employer. In many cases, you may be wondering what to do with it. At Platinum Financial Associates, we understand these decisions can be overwhelming. This is why we're here to help you make informed choices about your 401(k) and ensure your retirement savings are managed properly for long-term success.
We offer a comprehensive range of 401(k) investment management services designed to help individuals in Chicago take control of their retirement savings:
We’ll educate you on the four options available.
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We'll work closely with you to develop a customized investment strategy for your 401(k) that aligns with your financial goals, risk tolerance, and time horizon. We'll analyze your existing 401(k) investments and recommend adjustments to optimize your portfolio for growth and potential tax efficiency.
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We offer ongoing investment advisory services to help you make informed decisions about your 401(k) investments. Allow our team of experienced financial advisors to provide guidance on investment selection, asset allocation, and rebalancing strategies to help you stay on track with your retirement goals.
We understand that leaving a job can be a stressful time, and we're here to provide support and guidance for terminated employees in Chicago. We'll help you navigate the complexities of your 401(k) and make the best decisions about your retirement savings.
Contact Platinum Financial Associates today to schedule a complimentary consultation and discover how our Chicago 401(k) investment management services can help you manage your retirement savings with confidence.
When you leave a job, you have several options for your 401(k) account. Here's a breakdown of the most common choices:
This option may be ideal if your employer's plan offers low fees and a wide range of investment choices that align with your goals. However, you may have limited control over your investments, and you might be subject to the plan's restrictions.
Rolling over your 401(k) to an IRA allows you to have greater control over your investments and potentially access a broader range of investment options. This option can also offer lower fees in some cases.
Cashing out your 401(k) isn’t generally recommended, as you'll likely face taxes and penalties. It can also deplete your retirement savings and make it harder to achieve your financial goals.
Roll over the assets to his/her new employer’s plan, if one is available and rollovers are permitted.
Working with a 401(k) investment advisor in Chicago offers numerous benefits, including:
We'll work with you to develop a customized investment strategy that aligns with your goals and risk tolerance.
We're fiduciaries, meaning we're legally obligated to act in your best interests. You can trust that our advice is independent and comprehensive.
We'll provide ongoing support and guidance as you manage your 401(k), helping you stay on track with your retirement goals.
At Platinum Financial Associates, we understand that your retirement savings are a crucial part of your financial future. We're committed to providing personalized guidance and support to help you pursue your retirement goals.
Our team of financial advisors has extensive experience in 401(k) investment management and is here to help you make informed decisions.
We offer a comprehensive range of services, from 401k distribution education to investment advisory and distribution planning.
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As fiduciaries, we're legally and ethically obligated to act in your best interests. You can trust that we'll always put your needs first.
Our team of skilled financial advisors and CPAs is dedicated to providing you with personalized guidance and support every step of the way. We take the time to get to know our clients and understand your unique needs and goals. Our collaborative approach allows us to develop and implement investment strategies that align with your vision for the future.
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Experienced tax professional with a passion for helping businesses thrive.
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Administrative Associate
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If you roll over your 401(k) to an IRA or a new employer's plan, the transfer is generally tax-free. However, if you cash out your 401(k), you'll likely face taxes and penalties.
When choosing a 401(k) investment advisor in Chicago, it's essential to consider their experience, investment philosophy, fee structure, and fiduciary duty. Look for an advisor who is a fiduciary, meaning they are legally obligated to act in your best interests. You should also ask about their investment track record, their approach to risk management, and their communication style.
The fees associated with 401(k) investment management can vary depending on the advisor you choose and the services they provide. Some advisors charge a flat fee, while others charge a percentage of your assets under management. Be sure that you understand the fee structure before making a decision.
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Ready to discuss your 401(k) options and explore how our team can benefit you? Contact Platinum Financial Associates today to schedule a complimentary consultation.
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