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Richard Ahrens

CFP®, AEP®
Retirement, Insurance, Lifestage Based Planning
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“Richard Ahrens is a Certified Financial Planner™ and an Accredited Estate Planner with over 25 years of financial services experience. He believes the best way to make your money work harder for you is the have a plan before, during and after you invest.”
Firm:

Strategic Wealth Partners

Job Title:

Senior Wealth Plan Specialist

Biography:

Richard Ahrens is a Certified Financial Planner (CFP®) and Accredited Estate Planner (AEP®). Rich serves as the Senior Wealth Plan Specialist at Strategic Wealth Partners (SWP) in Independence, Ohio. Rich spends time with every new and current client of SWP to get to know their specific goals and objectives so he can provide the best possible solutions to achieve their financial goals. 

Rich has worked in financial services for over 25 years, with 15 of them focused on financial planning. Rich received his CFP® designation in 2007 and received the AEP designation in 2018.

Rich believes that every successful financial journey begins with a solid strategic plan, combined with solutions specific to each individual.

Rich currently resides in Twinsburg, Ohio with his wife Jillian, and his pack of three rescue dachshunds, Romeo, Capri and Buster 

Education:

BS, Finance, The University of Akron
Certified Financial Planner preparatory, The American College

CRD Number:

2569915

Insurance License:

#10450

All Answers
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    Retirement, 401(k)
I recently retired at the age of 77; is there a time limit on rolling over my 401(k) from my former employer?
100% of people found this answer helpful

Congratulations! My hope is that you have a financial plan in place so that you have a roadmap to help guide you through retirement. If you don't have a financial plan in place, it's never to late to start one.

As far as moving 401k assets go, consider the following:

  • You do not have to move funds from the plan as long as you maintain an asset level that allows you to remain.
  • While there are some out there who do, 401k plans typically do not offer offer advice.
    • So if you need investment help, I suggest moving the funds into a Traditional IRA and working with and advisor.
    • You will also have access to significantly more investment options that will be more specific to your needs.
  • If you decide to move the money from the 401k to a Traditional IRA, consider a direct transfer instead of a rollover.
    • You can only have one rollover per calendar year without potentially adverse tax consequences.
    • There is no limit on the number of transfers you can make. So if you have plans at multiple employers, transfers are the way to go.
  • If you want to move part (or all) of your 401k into a Roth IRA, you must move the money to a Traditional IRA first, then you can move the funds to the Roth IRA (called a Roth Conversion)
    • The transfer of funds from the 401k to the Traditional IRA will generate IRS Form 1099R to notify the IRS of the transfer. You have to report the move but there are no taxes due.
    • The transfer of funds (or assets) from the Traditional IRA to the Roth IRA also generates a Form 1099R, but this one triggers the taxable event that will then determine the tax on the amount converted (the amount converted is taxed as ordinary income in the year of the conversion).

I hope this helps. Best of luck to you, and enjoy your retirement!

October 2018
    Estate Planning, IRAs, Taxes
If I inherit an IRA before the age of 59.5, can I have it sent directly to my own IRA?
October 2018
    Retirement, IRAs
How do I ensure that my required minimum distribution (RMD) calculation is correct?
October 2018