Skip to main content

Nearing Retirement

Start saving for retirement
Starting out
Start Saving
for Retirement
Increase retirement savings
Building wealth
Nearing retirement
Nearing retirement
& fine-tune
your plan
Generate retirement income
In retirement
With retirement coming into view, it's time to get your financial planning into high gear and make any needed adjustments to ensure a smooth transition.

Your action plan

Sharpen the focus on retirement goals

It's time to revisit your retirement plan and see where you stand. If you're off track, take action to get back on it, whether it's stricter budgeting, contributing more to savings or both. Catch-up contributions can help boost your retirement savings because they allow you to contribute additional funds to your 401(k), as well as your traditional or Roth IRA.

Changing jobs? Consider your choices

A Merrill IRA offers an easy way to maintain the tax-deferred status of your retirement plan while consolidating your retirement assets into one easy-to-manage account.Footnote 1 Consider all of your choices

Adjust your asset allocation to your changing circumstances

As your investment time frame and goals change, so might your asset allocation. Many financial experts suggest reevaluating your asset allocation periodically or whenever you experience a milestone in your life, like marriage or the birth of a child.Footnote 2

Develop a Social Security and retirement date strategy

Although Social Security will make up just a portion of your retirement income, it's an important part of your overall retirement strategy. Give careful consideration to when it's most advantageous to take your benefit.Footnote 3

Start planning for your retirement needs

There are many financial considerations to think about besides your basic living expenses. A little planning will go a long way, whether you're debating about downsizing, considering part-time work or looking at ways to manage healthcare costs.Footnote 4

Find the right IRA

Which is the best fit for you, Traditional or Roth?

Our Perspectives

Get insights from Merrill to help you plan and invest for retirement.

Changing jobs?

It's easier to manage your assets when they're in one place. Consider consolidating your retirement accounts.Footnote 1
Helpful tools & resources
Manage investment risk
Helpful tools & resources
Align your investments with your comfort with risk
Helpful tools & resources
See ways to pursue growth and manage risk
Are you on track for retirement?
Helpful tools & resources
See if you're on your way to pursuing your retirement income goal.
Save for medical expenses
Helpful tools & resources
Save money on out-of-pocket medical expenses
Investing for your Life Priorities
Helpful tools & resources
What's most important to you? Our resources, tools and solutions help you invest for your Life Priorities—family, health, work, leisure and more.
Ready to get started?
You 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 (particularly with reference to employer stock), and different types of protection from creditors and legal judgments. These are complex choices and should be considered with care. For more information visit our rollover page or call Merrill at 888.637.3343.
Footnote 2 Asset allocation, rebalancing, and diversification do not ensure a profit or protect against loss in declining markets.

Footnote 3 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.

Footnote 4 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.

Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
Did you know that there are two ways to move assets from one IRA to another? The most common is a transfer. This is when you transfer assets from an IRA held at one financial institution to an IRA at another. You may directly transfer assets between investment firms as frequently as you wish. The second, less common approach is called a rollover. Rollovers occur when you withdraw assets from an IRA and then "roll" those assets back into the same IRA or into another one within 60 days. IRS rules limit you to one rollover per client per twelve month period. If you have questions or want to learn more call 888.637.3343 or consult a tax advisor.

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.