Financial Planning: Rollovers and Account Consolidation (Part 5 of 5) by Hills Bank Trust and Wealth Management Group
Knowing what to do with your retirement account(s) can be daunting. You’ve saved for your retirement for your entire working career, but now what do you do with it?
If your retirement funds are still in a 401(k) plan, you can roll them into an Individual Retirement Account (IRA). Rolling your retirement funds into an IRA allows you to continue to benefit from tax deferral, only paying income taxes when you withdraw funds from your IRA. Over several years, continued tax deferral can make a big difference. Additionally, you may have more investment options to choose from than your current company sponsored retirement plan offers. If you have multiple retirement accounts, consolidating your assets into a single rollover IRA can make it easier for you to keep track of your money and manage your investments. With a single account, you will be better able to see the big picture and guard against unwanted investment overlap. Reviewing your portfolio’s asset allocation and periodically rebalancing your portfolio will also be much easier. Instead of receiving multiple account statements, you receive one account statement, saving you time and effort. What’s more, with a single account, it only takes one call to your financial advisor when you have questions or concerns about your retirement savings. We invite you to work with Hills Bank's Trust and Wealth Management Group, which has over 500 cumulative years of trust and wealth management experience. • Local ownership. Work with people invested in your success. As an independent community bank with over 2,100 shareholders, our employees are the largest single shareholder, so they’re committed to your satisfaction. • Local service and decision making. When you need a broad range of collateral advice, ask our experienced wealth management advisors. With a wide breadth of knowledge in retirement and financial planning, trust, accounting, legal, and financial services, we have the ability to respond to your needs. • Professional portfolio management. Be confident knowing our investment strategy is built around you, your needs, and your goals. With broad investment expertise from internal research and advice from strategic partners, your goals are more likely to be achieved. • Clear, concise reporting. Whether you prefer paper or online, you will have access to reports that feature a clear, concise picture of your portfolio and its performance. • Fiduciary Services (e.g. Trusteeship). As a fiduciary, we make your best interest the first priority. We will act with prudence, skill, care, and diligence in the management of your assets. • Fully-disclosed wealth management fees. Feel at ease knowing that our interests are aligned with yours. Wealth management fees are fully disclosed and based upon the assets under management, not transactions or commissions, so you will know what you’re paying and how it’s calculated. We welcome the opportunity to discuss your retirement and non-retirement accounts with you. We are available to meet with you in Johnson, Linn, and Washington counties. Learn more by visiting HillsBank.com/WealthManagement, emailing Trust@HillsBank.com, or calling 1-800-899-8858.
Investment products are not a deposit, not FDIC insured, not insured by any federal governmental agency, carry no bank guarantee, and may go down in value.
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