How to Convert a 401k to an Annuity
Many retirees end up with a 401(k) or other retirement account that’s not being serviced after they’re no longer working. We often hear from new retirees that they’re getting a monthly statement, but they don’t understand what it is and no one is there to help explain it to them.
By converting that 401(k) into a guaranteed, interest-earning contract, you now have someone looking out for your savings, and your hard-earned savings are going to be more safe and secure.
Why rollover my 401k into a fixed annuity?
A fixed annuity offers a guaranteed contract with a current interest rate of about 4%. With a fixed annuity, that interest rate is locked in – your retirement nest egg will continue growing no matter what the stock market is doing.
Many retirees tell us that they love the fact that when they go to sleep at night, they know their investment is continuing to grow.
What about fees, risk, interest, and contracts?
A fixed annuity has no fees, no risk, a guaranteed interest rate, different contract length options from as little as 1 year to over 10 years.
What if I still want to access my 401k money?
With a fixed annuity, you still have access to your money, and you also have access to your earned interest.
What about taxes?
Rolling over your 401(k) into a fixed annuity is not a taxable event – we’re simply transferring your money from one institution to another. In addition, there are no fees for making that transfer.
How do I get started?
If you have a 401(k), IRA, or other retirement account, we’d love to help you preserve it. Give us a call at 833-801-7999 to get started today.
Our team of dedicated, licensed agents can help you as little or as much as you need. Whether it’s answering a few questions about Medicare or creating a comprehensive Medicare Planner with you, we are your Medicare Allies.