Craig Lundquist and Kristin Becker photo
Ideal Wealth Advisors logo

Craig Lundquist, MBA, ChFC®, CRPC®

VP of Wealth Management

craig.lundquist@lpl.com

651-773-2757

 

Kristin Becker

Senior Administrative Assistant

kristin.becker@lpl.com

651-773-2821

 

Ideal Wealth Advisors

Located at Ideal Credit Union

8499 Tamarack Road

Woodbury, MN 55125

 

CRPC conferred by College for Financial Planning

March/April 2023

Is a New Employer in Your Future

Congrats you got the job, a message inside a brown envelope. New job or employment concept.

Starting a job at a new company can be an exciting opportunity. Before you clean out your desk and say good-bye to your coworkers, review the items on the checklist below.


Your Retirement Account.
You can:
  1. Leave the money in your former employer's plan, if the employer allows;

  2. Have funds directly transferred to your new employer's plan or an IRA. Consider rolling over HSA funds to your new health account as well;

  3. Cash out of the plan. However, if you opt for cash, you need to pay income taxes at your ordinary rate and if you are younger than 59 1/2, you will pay a 10% penalty.


Stock Options.
If stock owneship is part of your compensation find out the stock type, tax implications, vesting schedule, and what will happen to the stock if you leave the company.


Benefits.
Review your new employer's insurance and benefit plans to determine if benefits match what you currently have.


Flexible Spending Account.
Use any money left in your FSA before you leave the company so you don't lose it.

1-05349352


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Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Ideal Credit Union and Ideal Wealth Advisors are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Ideal Wealth Advisors, and may also be employees of Ideal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of Ideal Credit Union or Ideal Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:

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This publication is not intended as legal or tax advice. All individuals, including those involved in the estate planning process, are advised to meet with their tax and legal professionals. The individual sponsor of this newsletter will work with your tax and legal advisors to help select appropriate product solutions. We do not endorse or guarantee the content or services of any website mentioned in this newsletter. We encourage you to review the privacy policy of each website you visit. Limitations, restrictions and other rules and regulations apply to many of the financial and insurance products and concepts presented in this newsletter, and they may differ according to individual situations. The publisher and sponsor do not assume liability for financial decisions based on the newsletter’s contents.
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