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What is a Rollover?

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As a financial strategist and money coach, Leon is able to apply tried and tested systems and wealth strategies, which enable his students and clients to improve their financial and personal lives.

Don’t Forget To Check Out “Maximizing The Bank Of You Concept”

401k rollover balls pictureNo, I am not talking about what you spent the last year teaching your pet to do. The rollover that I am talking about is a procedure that the IRS designed that allows you to distribute or “roll over” assets from one retirement plan into another. Why would you do this? Say for example you changed jobs or retired, you could transfer assets from one retirement plan to another i.e., from an employer sponsored 401(k) plan into an IRA–protecting your tax-free status and avoiding any early withdrawal penalties.

Self Directed IRA’s

The advantages of rolling over your managed IRA plans into a self-directed plan are many. Self-directed IRA’s offer you a range of investment choices i.e., mutual funds, stocks, bonds,real estate, and CD’s that are not traditionally offered by managed plans.

Insurance

Did you know that you can even roll over your insurance contract into another insurance contract? Yes as given under IRS 1035 you can roll over your insurance and annuity contracts.. The legislative history of 1035 states that exchange treatment is appropriate for “individuals who have merely exchanged one insurance policy for another better suited to their needs and who have not actually realized gain.” I have been able to replace outdated nonperforming insurance policies with policies that better fit the goals of the client. Here is a link to more complete text of 1035 exchanges:

  1035 text (unknown, 0 hits)


If you would like to discuss a possible rollover  please contact me at 916.470.5004 or email to leon@lucafinancial.com

Don’t Forget To Check Out “Maximizing The Bank Of You Concept”

Leon C. Williams
Financial Strategist
LUCA Financial Services
http://leonsblog.leonwilliams.me
leon@lucafinancial.com

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About Leon Williams

As a financial strategist and money coach, Leon is able to apply tried and tested systems and wealth strategies, which enable his students and clients to improve their financial and personal lives.