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What if you could snap your fingers and move your old 401k to a new retirement account?
I’m talking about Hermione Granger type magic.
I’m sure you know that it’s important to invest in retirement, and that a 401k is a great way to do it (which it is), but you might also be wondering…
Is there an easy way to roll over your old 401k to a new account?
The short answer is yes. And the great news is it’s completely free with Capitalize.
As a teacher in Minnesota, I’m required to contribute money to a Teacher Retirement Account (TRA). It’s kind of like a teacher version of a 401k, and the two districts I’ve worked at offer a match to my required contribution, which is pretty sweet.
Another great thing about the TRA is that even if I change school districts, the money gets invested in the same TRA account.
But a lot of people aren’t teachers and their employer based retirement accounts don’t automatically transfer.
So what happened when you left your old job? Did your old 401k transfer with you, or is it just sitting there stagnant without any additional contributions?
There are millions of 401k accounts doing this exact thing, but it doesn’t have to be like this.
You can roll over your 401k into an IRA and start contributing to your retirement again and watch your investment grow with total control.
Best of all, Capitalize can help you roll over your 401k FOR FREE! Let’s dive into a quick Capitalize review to see if Capitalize is a good fit to help you roll over your 401k.
What is Capitalize?
Capitalize is a service provider that helps people move their old 401k accounts. Their team of experts helps people roll over their 401k into an IRA (individual retirement account) for FREE.
It’s basically the easy button for 401k rollovers.
Capitalize specializes in helping people roll over their old 401k accounts, and they do it every day. Their rollover experts handle every step of the process from start to finish (even filling out the dreaded paperwork) so you don’t have to.
No hassle, no headaches, no waiting on hold for hours trying to find where your 401k money is and the right paperwork to file to move your money. Did I mention it’s FREE? Seriously.
It honestly sounds too good to be true, but it’s not.
Before we get to why Capitalize is a great option to roll over your 401k, let’s look at why you may want to roll over your 401k in the first place.
Why Roll over Your 401k?
There are two benefits to rolling over your old 401k.
First, you can be in control of your retirement assets. A 401k is managed by your employer (not you). When you roll over your 401k, you can put your entire asset into an IRA that you control and that works best based on your current situation.
Instead of sitting in an old account that you can’t contribute money to, a rolled over 401k gives you the power to keep adding money and contributions so your retirement grows at a faster rate.
You can also choose more investment options, not just the investment options your old employer chose for you.
The second reason to roll over your 401k is to avoid fees.
If you leave a 401k account unmanaged and ignored, you might start to rack up unnecessary fees. IRAs provide easy visibility into fees, so you can choose an account that makes sense for you. The biggest downfall with fees is that they eat into your retirement savings and limit the growth potential. If you want to build a nest egg for retirement, rolling over your 401k is a great step.
Why Use Capitalize to Roll over Your 401k
Plain and simple, Capitalize has a team of experts at rolling over 401ks. If you’re NOT an expert, chances are the process of moving your 401k will be long, frustrating, and take up a lot of your time you’d rather spend doing pretty much anything else.
Let me give you an example of getting help from the experts.
Last winter we hired somebody to paint the walls of the first floor of our house.
Could we have painted it ourselves?
Absolutely! We knew the paint colors we wanted, we both had a little painting experience, and a week off of work to get the job done.
But I also know:
- we wouldn’t have done as good of a job
- painting would’ve consumed our entire lives for that week
- we would’ve likely been frustrated, annoyed, or exhausted during big chunks of the project
That sounds terrible.
Instead we hired an expert whose entire job it is to paint and make our home look beautiful.
That’s exactly why Capitalize is so great for helping you roll over your 401k.
They have a team of experts who take care of every annoying, tedious detail of paperwork, finding your old 401k, and helping you choose the best IRA for you. More on IRAs in a minute.
Plus, Capitalize is completely free.
I’m still flabbergasted by this. Capitalize takes a super annoying, tedious, and frustrating task and does it for free. You’ll never pay a fee to Capitalize for any part of the process.
Your 401k provider might charge a small fee to roll over your investment, but this fee isn’t paid to or collected by Capitalize. And, you’d still pay this nominal fee if you chose to roll over your 401k yourself.
Capitalize is committed to doing what’s best for you no matter what.
If you already have an IRA, Capitalize will still help you roll over your 401k to your existing account.
How Does Capitalize Work
Once your account is set up, Capitalize rolls over your 401k in three easy steps.
1. Locate your former 401k account. Capitalize has a database of 401k providers in the US. In the short survey you take, you can search for your former employer if you remember it. Chances are Capitalize has them in their database.
2. Help you compare IRA options to find the best fit, then open your account online. Capitalize works with more than a dozen IRA providers, all of which are trusted brands and companies. If you don’t already have an IRA, Capitalize offers a quick survey to find one that best fits your needs.
3. Initiate the 401k rollover to your new IRA. This entire process happens digitally and you never need to fill out paperwork. The 401k rollover process might still involve a phone call or forms, but the rollover experts at Capitalize will fill out the forms, send them for you, and even wait on hold for you. Plus, they keep you informed and updated the entire time they’re working to get your new account set up.
I want to give you two more quick takeaways with how Capitalize works.
First, almost every step of the 401k rollover process takes place online. Second, Capitalize does all the work for you once you create your account. You’ll need to fill out a quick survey to choose the best IRA for your situation and to provide basic information to Capitalize about your 401k. Capitalize takes care of the rest.
What IRA Options Does Capitalize Offer
Capitalize helps you find the best IRA for your situation. If you already have an IRA, this part is easy. You can roll over your 401k into your existing IRA and once again, Capitalize will do most of the work to make this happen for you.
But, if you don’t have an IRA, Capitalize has several options of IRAs to choose from through their partners. I’m going to highlight two of the most popular IRA options.
One thing to keep in mind is what type of 401k you have. If you have a traditional 401k, you must roll into a traditional IRA. Same goes for a Roth 401k. You must roll into a Roth IRA. You could choose to convert from a traditional IRA to a Roth IRA, but it’s important you consider the tax implications.
The primary difference between roth IRAs & traditional IRAs is when you pay taxes – before you contribute the money (letting it grow tax free) or when you take out the money
You also get a tax break with a Roth IRA. The money you contribute to your Roth IRA is already taxed as income, so when you withdraw in retirement you can do so tax-free. This is a major benefit of a Roth IRA compared to a traditional.
When you contribute to a traditional IRA, you’re investing pre-tax dollars. Plus, contributions to a traditional IRA are tax deductible. When you open a traditional IRA you’ll pay taxes when you withdraw your money in retirement.
If you’re really struggling to make a choice, Capitalize offers a free survey to find the IRA that best fits your goals. You can take the survey when you sign up with Capitalize. It only takes a few minutes. You can also read this quick comparison between IRAs in just a couple minutes.
Okay, those are the major benefits and reasons that Capitalize is a great option to roll over your 401k. Now let’s look at the big questions people have regarding Capitalize. You can also check out more information directly from the Capitalize website.
Can Capitalize help me roll over a 403(b), 457(b), or another kind of retirement
Yes! These types of retirement accounts follow the same rollover process as a 401k. Capitalize will help you locate your account, choose an IRA, and Capitalize will do all of the tedious paperwork for you!
No waiting on hold and no frustration finding the right paperwork. The experts at Capitalize will do most of this for you and keep you in the loop during the entire process.
Can you Roll over Multiple 401k Accounts?
Yep! Capitalize follows the same process for each 401k you have from past jobs.
- Locate your 401k
- help you choose an IRA
- Capitalize experts fill out all the paperwork that let’s be honest nobody wants to do.
Capitalize makes it easy and pretty pain-free for you.
Is Capitalize Legit?
I can say with 100% certainty that Capitalize is the real deal, and when they say it’s FREE, they really mean it. There are zero fees or costs for you to sign up with Capitalize and transfer your 401k to an IRA.
They truly want the best outcome for you and work to achieve it no matter what. Of course they are a business and want to make money, but the most important goal is for them to help you successfully roll over your 401k.
How Does Capitalize Make Money?
So, you don’t pay any fees and there’s no upfront charge for Capitalize’s services…so who pays Capitalize? This is a great question and anytime there is a free service it’s natural to wonder “what’s the catch”?
Capitalize gets a referral fee paid to them by the financial company you use to open your IRA.
Here’s a quick story about how Capitalize keeps its service free for you.
Gregg wants to roll over his 401k so he can actually control this amazing asset. He heard of Capitalize and is excited about a no-hassle way to roll over his 401k to an IRA. Gregg signs up with Capitalize.
Right away, the experts at Capitalize locate his old 401k (with some help from Gregg) and help him find the best IRA for his money. Gregg takes the short survey on Capitalize to address his needs and goals for an IRA and finds a great fit.
Capitalize fills out all the paperwork, waits on hold, and finishes the process of rolling over Gregg’s 401k.
Now, since Gregg opened an IRA with one of Capitalize’s partners, Capitalize gets a referral fee from the company that Gregg opened his IRA with.
- Gregg gets his 401k rolled over for free and now has control over his retirement asset.
- Capitalize helped Gregg roll over his 401k, which is their business goal AND Capitalize gets a referral fee from the IRA company.
- The IRA company Gregg chose gained a new customer and is happy to help his retirement grow in his new IRA.
And if you already have an IRA, Capitalize will still help you roll over your 401k into your existing account – because that’s the right thing to do.
Is Capitalize Right for You?
Hopefully I’ve been able to answer most of your questions about Capitalize and how they can help you roll over your 401k hassle-free.
If you’re still wondering if Capitalize is right for you, you might belong to one of 3 groups of people.
If you find yourself in one of these three groups, I HIGHLY recommend using Capitalize (especially since it’s free):
- You have an old 401k from a previous job that is just sitting there. You’re pretty financially savvy and you KNOW that it’s smart to roll over your old 401k and you have a good idea of how to do that. Capitalize does the hard work for you and makes your 401k rollover easier.
- You have a 401k but don’t know what to do with it. Capitalize can walk you through the steps involved in rolling over your 401k into an IRA. This includes how to find your 401k, how to transfer it, and which IRA option will work best for you.
- You know what you need to do – roll over your 401k into an IRA, but you don’t want to spend the time and energy to do it. I hear you with all that time on the phone, filling out and submitting paperwork, and ALL THAT TIME. It’s a lot.
The good news is Capitalize helps people transfer their old 401ks ALL THE TIME. It’s what they do, and they’re pretty good at it. You won’t need to spend hours on the phone or remember old passwords and accounts. The awesome team at Capitalize will find your 401k, wait on hold, and do the heavy lifting with the paperwork to ensure your old 401k is put to good use in a new IRA account.
Are You Ready to Roll over Your 401k with Capitalize?
If the answer is yes, or even a maybe, click this link and head over to Capitalize and start the process of rolling over your 401k. If you choose to go with Capitalize and roll over your 401k for free, you’ll be in control of your retirement investment and have the power to keep contributing money to grow and earn interest.
Or, you can choose to keep your old 401k as it is, possibly accumulating unnecessary fees with little to no control over your asset.
What do you have to lose?