Wealth with Intention

Let's talk about something that trips up even the most financially savvy women I know: what to do with your 401(k) when you leave a job. Whether you just accepted an exciting new offer, walked away from a toxic workplace, or are navigating a divorce, your retirement savings deserve a thoughtful strategy rather than a panicked decision made under pressure.

A 401(k) rollover is simply the process of transferring your retirement funds from your old employer's plan to a new account. Done correctly, it's tax-free and penalty-free. Done incorrectly, it can cost you thousands. That's why I want to walk you through your options with clarity and intention, so you can make a decision that actually aligns with your financial goals.

What Are Your Main 401(k) Rollover Options?

You generally have four choices when it comes to your old 401(k):

1. Roll it over to an IRA. This is often my first recommendation for clients because it opens up a much wider range of investment options and frequently co...

A self-directed 401(k) or 403(b) is an additional investment option to the traditional retirement plans offered by your employer. It might be available to you and you don’t even realize it. In those traditional plans, your employer pre-approves funds you can invest in, whereas a self-directed 401(k) or 403(b) allows for a little more flexibility in choosing what you can invest in.

Whether it’s you or someone outside your company’s organization, the option of a self-directed 401(k) could be great for you if you like having a little more say in where your money goes. It’s important to note that not all employers offer this option, so check with your organization to see if you’re able to participate in a self-directed brokerage of your investments.

Do you know what’s happening with your money? 

I can’t tell you how many people I’ve talked to who have no idea how their 401(k) is invested. It’s usually not managed well because they don’t know how to select their investments nor do they...

As some of you know, I started my career as a teacher. Also, as a mother of three, I am frequently interacting with teachers so it should come as no surprise that many of my clients are teachers or school administrators. Through this work, I have learned that there is a lot of confusion among educators when it comes to saving for retirement. For today, I am going to focus on one specific element of the retirement plan and that's the 403(b) account.

403(b) Basics

Before I get to the questions about your 403(b) that you should show know the answer to, let's start with the basics. What is a 403(b) and why would you be contributing to it? A 403(b) is a tax-deferred retirement plan. That means the money goes in with pre-tax dollars and grows tax-deferred. It is taxed as ordinary income when withdrawn from the plan. A 403(b) is available to employees of schools and certain non-profit organizations. It's named after the section of the IRS code governing it. For 2018, the IRS contribution ...