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Life Events: Job Loss

Life happens. Will you be ready?
Throughout your investing life, you're going to experience life events — some planned, some not — that will affect your finances.
We're here to help you prepare for those critical times of financial change.

Job loss

While it may be tempting to reach for retirement assets after losing a job, look for other sources that won't have an impact on your long-term plans.
Keep in mind:
Think about tapping savings accounts or money market funds — they may be simplest to liquidate
Consider accessing the equity in your home through a home equity loan or line of credit
Start with Roth contributions if you must tap your retirement assets

Preferred Rewards

Enjoy real benefits and rewards on your Merrill investing and Bank of America® banking accounts. And as your balances grow, so do your benefits.

Managing retirement assets
in the event of a layoff

Learn about ways to make ends meet while you're unemployed, without dipping into retirement savings.

I lost my job.
How can I stay on
track financially?

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Footnote  1You have choices about what to do with your employer-sponsored retirement plan accounts. Depending on your financial circumstances, needs and goals, you may choose to roll over to an IRA or convert to a Roth IRA, roll over an employer-sponsored plan from your old job to your new employer, take a distribution, or leave the account where it is. Each choice may offer different investment options and services, fees and expenses, withdrawal options, required minimum distributions, tax treatment, and different types of protection from creditors and legal judgments. These are complex choices and should be considered with care. Visit merrilledge.com/retirement/rollover-ira or call a Merrill Rollover Specialist at 888.637.3343 for more information about your choices.

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