Consolidate Your Retirement Accounts

Do you have more than one retirement account from a previous employer, or IRAs at more than one institution, and an IRA at Equity Trust? If so, here is why you should consolidate your retirement plan assets into your existing Equity Trust self directed IRA.

Control and Choice

Moving your retirement assets to your self directed IRA allows you the opportunity to invest in almost anything. Look at the many investment options available to Equity Trust clients: real estate, notes, foreclosures, mortgages, tax deeds, tax liens, mobile homes, private placements and foreign exchange.

If you don’t roll your old employer-sponsored plan assets into another employer-sponsored plan, you could consolidate your assets into the self-directed IRA you already have at Equity Trust. If you have Roth 401(k) assets, you can roll that over into your Equity Trust self-directed Roth IRA. In addition, it may be possible to transfer those existing assets or company stock (in kind) from a 401(k) to an IRA.

With an IRA you maintain control over the assets. If you need money now, it may be possible to make a penalty free distribution prior to age 59 ½ if  you are covering a first time home purchase, certain higher education bills, or financial hardships (the distribution will still be subject to federal taxes).

The Big Picture

Consolidating these assets into your self directed IRA makes it easier for you to explore what you own and help you avoid some common self directed IRA investment mistakes: portfolio overlap and an asset allocation that doesn’t match your risk tolerance or goals.

Streamline Required Minimum Distributions

With a self-directed Traditional IRA you must begin to take required minimum distributions (RMDs) no later than April 1st of the year after you turn 70 ½ to avoid a tax penalty.

If you have more than one IRA, you must calculate the RMD for each IRA separately each year, and you can take your total RMD from only one IRA. You can simplify that process by consolidating any 401(k) accounts and IRAs into one self directed Equity Trust IRA, which allows you to calculate only one RMD.

Equity Trust Can Help

Open a Self Directed IRA Now
Learn more about Rollover IRAs