Economy Rockford: Retirement Options

23 News financial expert Scott Laue says you can take your retirement plan with you wherever you go. If you’re out of a job or considering a job change, he says think about moving your 401-k to an IRA. Laue says that will allow you to continue delaying taxes on your retirement, and to avoid an early withdrawal penalty. But, Laue says, if you have a good retirement pot with your former employer leave your money there or roll it over to your new companies plan. If you do decide to cash in, you will get a check for the balance minus 20 percent withholding for income taxes.

How can you break even? That all depends on your age, and your return percentage annually.

23 WIFR 2523 North Meridian Road Rockford, IL. 61101 Business: 815-987-5300 Fax: 815-965-0981 News: 815-987-5330 Fax: 815-987-5333
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 85209982 -
Gray Television, Inc.