Rolling To A Traditional IRA

When it comes to our retirement funds we generally have a lot of questions.  When we are leaving an old employer for greener grass or perhaps we get laid off, we have even more questions about our retirement investing.  What do we do now? What are my options? How do I start the process? Do I have to do this alone?  It can be a really frustrating and scary position if you are not sure about what to do.
One option that is available to you is to rollover your retirement to a traditional IRA account.  There are a lot of reasons why this is a good choice to make.  With a traditional IRA you have a wide variety of investment choices, as well as lower fees.  The money is not taxed when you decide to move it and you will continue to get a tax deferred increase.  If for one reason or another you decide not to contribute any more money into the account, you have the option to transfer your retirement to a new employers 401k plan in the future.
This option is a great choice for anyone who wants to have more flexibility with their investments or should you want to consolidate multiple retirement accounts.  If you have more than one retirement account this is a good course of action because it is much easier to organize and monitor one account than multiple accounts.  It will also simplify the process for future action as well as any required minimum distributions.
There are however 2 downsides to going with a traditional IRA.  One downside is that you cannot borrow against an IRA.  Now, for me personally, I do not see this as such a big downside because you want to avoid borrowing against your retirement funds at all cost.  I do however realize that sometimes there are things in life that happen when we need money.  So you have to give this one some thought. If you do not have access to any other funds, you may want to steer clear of the IRA.  The other downside is that you will have to wait until the age of 59 1 /2 to take any distributions without a penalty. You have to sit down and look over all the options and decide which is the right choice for you.  If you are not sure and need to get 401k rollover info, visit a retirement specialist.