ROLLOVER & RETIREMENT
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Are You Leaving Your Employer?
Are you saving for retirement?
Employer-sponsored plans are truly a great benefit
You can bring your old retirement accounts with you.
Learn to save the right amount for your retirement.
Risk tolerance, time horizon and investment strategy are all key components.
Saving is good!
Avoid the temptation to cash out your retirement plan.
Even if you leave, your account may be able to stay.
You can bring your old retirement accounts with you.
Just because you can take money, doesn't mean you should.
Time to get your investment house in order.
Saving is good!
Learn to save the right amount for your retirement.
Have you covered all your bases?
Are you on target, off by a mile, or somewhere in between?
You can bring your old retirement accounts with you.
Risk tolerance, time horizon and investment strategy are all key components.
Saving is good!
Retirement age varies with the circumstances.
Learn to save the right amount for your retirement.
Just because you can take money, doesn't mean you should.
Risk tolerance, time horizon and investment strategy are all key components.
Its important to determine how you will begin to receive income during your retirement.
Just because you can take money, doesn't mean you should.
You may no longer work at your job, but you do need to work at managing your investments.
Ready to write your own paycheck?
Juggling too many accounts?
Health costs can take a big chunk of your retirement savings.
Share the wealth with your family.not uncle sam.
Money Now

 Hardship Withdrawals | Non-retirement Savings  

"Define Hardship."

What you may consider a hardship and what the IRS considers a hardship are probably separated by light years of empty space.

Your employer-sponsored plan is a long-term savings vehicle, not a source of ready cash. Of course, Uncle Sam does have a heart and may (rarely) permit hardship withdrawals from your plan only if the money is to be used for:

  • College tuition (due in the next 12 months)
  • Down payment on a primary residence
  • Medical expenses
  • Prevention of foreclosure or eviction from your home

You pay income tax (and perhaps an early withdrawal penalty) to access your money…yes, even on a hardship withdrawal. So, while this option may get you out of a serious jam, it's not one to be exercised lightly.



"Got a sec?"

Let me explain why this option is so costly.

Let's say you need $2,500 for an emergency medical expense. You'll owe taxes and penalties on that amount when you withdraw. So, you'll really need to withdraw $3,847, pay $1,347 in taxes and penalties, which will leave you with $2,500 to meet your obligations. Are you sure you want to do this?


© 2008 ING North America Insurance Corporation. All rights reserved.
Advisory services provided through ING Financial Advisers, LLC (member SIPC).
This information is not intended to be tax or legal advice. ING does not offer tax or legal advice. Consult your own legal or tax advisor regarding your specific situation.
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