So often I hear from listeners who are about to retire and they realize they fall into the category of having too many retirement plans.
Congress realized a couple of years back that most workers will not have enough retirement savings set aside for their golden years.
You may have a 401(k), a 403(b) which is for nonprofit organizations such as schools and hospitals, a 457 plan which covers state, county and city employees and there is a Thrift Savings Plan for federal employees.
Almost all 401(k) plans and some 403(b) and 457 plans allow the participant to borrow from their plan.
How many IRAs do you have? How many retirement plans?
It’s midyear and this is a good time to review your retirement accounts.
When we hear the word rollover, we think of a dog following a command to rollover, wanting a treat.