Key Things to Know : ClearPath Wealth Strategies | Frisco, TX

Key Things to Know

So you know that a rollover is the right path for you; you believe that rollover IRAs offer you more control over your investments by consolidating your old 401(k) and other retirement assets into investment accounts that allow you to decide where and how you invest. With a rollover IRA, you continue to optimize your opportunities for tax deferred gains without being tied to one specific plan.

At ClearPath, we’ll help you manage the process and make it simple for you to view your portfolio at any time. You’ll have a broad range of investment opportunities, and our professionals will offer personal guidance about your accounts.

Tax Benefits

Because you’re not technically withdrawing the money, moving your assets to a rollover IRA allows you to take more control over your investments without paying taxes or withdrawal penalties on the transfer.

Accessible Cash

There are a few ways you can withdraw money early (before age 59 ½) from your IRA without paying a penalty. If you need cash for college expenses, purchasing your first home, adopting a child, or having a baby, you can withdraw the money without additional tax ramifications. However, if you withdraw money for other reasons, you could face a 10% penalty.


Rollover IRAs typically provide more investment opportunities than an employer’s 401(k) plan. But it’s important to note that with a rollover IRA, you will be required to withdraw a specific amount of money (the required minimum distribution, or RMD) each year once you reach age 72.

Neither ClearPath Wealth Strategies, LLC, New York Life Insurance Company, nor its agents, provides tax, legal, or accounting advice.
Please consult your own tax, legal, or accounting professional before making any decisions