NEARING RETIREMENT

Maximize savings & fine‑tune your plan

As retirement nears, it's more important than ever to make sure you're financially prepared and making adjustments as needed.
1

Sharpen the focus of retirement goals

Review your retirement plan and see where you stand. If you're off track, take action—whether it's stricter budgeting, larger contributions or both.
Catch-up contributions can help boost your retirement savings. In 2018, if you are 50 or older1, you can contribute an additional $6,000 to your 401(k) and an additional $1,000 to your Traditional or Roth IRA.
2

Changing Jobs?
Consider your choices

A Rollover IRA offers an easy way to maintain the tax-deferred status of your retirement plans, while consolidating your assets into one easy-to-manage account. Consider all of your choices and learn if a rollover IRA may be right for you.2
Learn more:
3

Update your asset allocation

As your investment time frame and goals change, you may need to adjust your asset allocation. Many experts suggest reevaluating your asset allocation periodically or whenever you experience a milestone, like a marriage or birth.3
4

Develop a retirement date strategy

Social Security is an important part of your retirement strategy. Research and consider the most advantageous time to take your benefit. The longer you wait, the more you'll get.4
1

Prepare for your retirement needs

There are many financial considerations to think about beyond your basic living expenses. A little planning goes a long way, whether it's deciding whether to downsize, considering part-time work or looking at ways to manage health care costs.5

Get up to

$600
when you open and fund a new Merrill Edge investment account or IRA.
Looking for investment advice and guidance?
Meet with a Financial Solutions Advisor at more than 2,000 select Bank of America financial centers.
Or call us 24/7 at 866.460.1282
2 You have choices for what to do with your employer sponsored retirement plan. Depending on your financial circumstances, needs and goals, you may choose to roll over to an IRA or convert to a Roth, roll over to an employer sponsored plan from a prior employer to an employer sponsored plan at 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 provide different protection from creditors and legal judgments. These are complex choices and should be considered with care. Visit www.merrilledge.com/ m/pages/mobile /retirement/rollover-ira-mobile.aspx or call a Merrill Edge rollover specialist at 866.460.1282 for additional information about your choices.

Important risk disclosures

1 You are treated as being age 50 or older if you will turn age 50 or older at any point during the calendar year.
3 Asset allocation and diversification do not ensure a profit or protect against loss in declining markets.
4 This material should be regarded as general information on Social Security considerations and is not intended to provide specific social security advice. If you have questions regarding your particular situation, please contact your legal or tax advisor.
5 This material should be regarded as general information on healthcare considerations and is not intended to provide specific healthcare advice. If you have questions regarding your particular situation, please contact your legal or tax advisor.
Neither Merrill Lynch nor any of its affiliates or financial advisors provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
A direct rollover occurs when you request that a rollover check be made payable directly to the new custodian for the benefit of your individual retirement account (IRA) or employer-sponsored retirement plan. A direct rollover is not subject to current tax or penalties.
An indirect rollover occurs when you request that a rollover check be made payable to you, after which you deposit the money into your IRA or another employer's retirement plan within 60 days. When such a distribution is made by the plan, the plan is required by law to withhold 20% of the taxable amount for prepayment of federal income taxes. If you wish to rollover the entire distribution, you must make up the 20% withholding out of your own funds, or you will be subject to income taxes and possibly early withdrawal penalties on the shortfall. If you fail to complete the rollover within 60 days, all or part of the money distributed to you will be taxable and a 10% additional tax for early withdrawals may apply.
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