This is a guide for rolling over retirement accounts from an old Employer to with FitBUX’s partner Betterment. You can begin the process by clicking the button below.
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BEFORE GOING THROUGH THESE STEPS THIS IS RECOMMENDED
To make this process as smooth as possible, we highly recommend logging into your existing retirement account or calling them and instruct them to sale all the investments, i.e. you want the account to be in cash. It makes the transfer process a lot faster and easier.
Steps 1 – 9 details how to open your account.
Steps 10 – 15 provide instructions for rolling over your previous employer’s retirement account.
Step 1: If you haven’t already done so, click the button below to start the account opening process.
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Step 2: Enter your email address and choose a password
Step 3: Enter your contact information
Step 4: Enter your Identity verification information
Step 5: Enter your employment status. This is needed by Betterment for risk and suitability analysis
Step 6: Enter financial information. This is also needed by Betterment for risk and suitability analysis.
Step 7: Only answer yes to these questions if they are true. If they are true, you may have to answer a few additional questions.
Step 8: Adding a beneficiary. If you have a will or a trust and name a beneficiary in those then you don’t necessarily have to complete this section. However, if you’d like to add a beneficiary you may do so. You can also do it after the account has been opened.
Step 9: Select security questions and answers as well as agree to both Betterment’s and FitBUX RIA LLC’s terms and conditions.
Step 10: To start the rollover process, click “Add New” from the left hand menu.
Step 11: Choose “Plan For Retirement”
Step 12: If you’ve already set up one retirement goal, you can add this new account to existing goal. If you haven’t choose “Create New Retirement Income Goal.”
Step 13: If you have a 401k, 403b, or any type of account that the money contributed went in BEFORE TAXES choose Traditional IRA. If you have a ROTH 401k, choose Roth IRA.
Step 14: Tax coordination only makes since if you also have a taxable account opened with Betterment. If you don’t, you can choose to leave this on or turn it off.
Step 15: Agree to the account opening terms.
There are two ways to rollover your retirement account. We labeled these steps as a or b.
Step 16a: The easiest way to rollover your account is by linking it to your new Betterment account. To do so go to your home screen on Betterment, scroll down and select “Sync External Accounts.” If your company isn’t listed on the linking screen proceed to step 16b. If it is continue to step 17a.
Step 16b: If you can’t link your retirement account then go to the home screen and select “Transfer or Rollover” from the upper right corner then select “Rollover to Betterment.”
17a: Return to your home screen and scroll down to other linked accounts. Select “Start Roll Over.” From there follow the prompts and you are finished. If you have any issues message your FitBUX Coach.
Also, if you haven’t already done so, we highly recommend logging into your existing retirement account or calling them and instruct them to sale all the assets, i.e. you want the account to be in cash. It makes the transfer process a lot faster and easier.
17b: Select “Retirement Account”
18b: Select “401k” or “Different kind of employer plan”
19b: If you are no longer employed by the company select “No”. If you are still employed by the company then you most likely can’t rollover your account.
Step 20b: On the next screen select what type of funds are in your account. If you have a traditional 401k then select traditional funds only. If you don’t know send your FitBUX Coach a copy of your account statement and they’ll be able to tell you.
Step 21b: Enter the name of your provider. If you don’t see it select other.
Step 22b: Follow the instructions that Betterment provides. Each company differs so if you have any questions please ask your FitBUX Coach.
Step 23b: Wait for the funds to arrive.