A
Still working
Review contribution rate, employer match, investment choices, risk level and whether Roth or pre-tax contributions fit the broader strategy.
401(k) & retirement planning
Retirement & 401(k) planning in Orland Park.
P. Mark Deimling helps individuals and families in Orland Park connect retirement accounts to the life they want to lead. Review how your 401(k), Social Security, pensions, IRAs and taxable investments fit together with spending and tax considerations.
B
Changing jobs
Compare whether to leave assets in the former plan, roll to a new employer plan, roll to an IRA or take a distribution—each has tradeoffs.
C
Approaching retirement
Plan how 401(k) distributions interact with other income sources, liquidity needs, taxes and required minimum distributions.
Rollover decisions
“Can I roll it over?” is different from “Should I?”
A rollover can simplify accounts and expand investment choices, but an employer plan may have institutional pricing, creditor protections or unique withdrawal features worth preserving. Compare first.
Leave it in the former employer planMay preserve plan-specific features and pricing.
Move to a new employer planCan consolidate qualified plan assets if the new plan accepts rollovers.
Roll to an IRAMay broaden investment choices and planning flexibility, while changing fee and protection considerations.
Take a distributionMay trigger taxes and, depending on circumstances, additional penalties.
Retirement income
Turn a balance sheet into a paycheck strategy.
Accumulating assets is only half of retirement planning. The next problem is deciding what to spend, from which account, in what order, and how much volatility the plan can tolerate while distributions are occurring.
Questions to coordinate
- When should retirement begin?
- How much dependable income is already covered?
- Which assets should stay liquid?
- How should withdrawals be sequenced?
- What market risk is appropriate during distribution years?
- How do Social Security and pension decisions interact?
Have an old 401(k) or a retirement date in mind?
Start with your retirement priorities, then compare your choices before moving money. You can also explore investment planning and annuity income features as parts of the broader plan.