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      For Your Life Scott Reinhard October 7, 2026

      National Savings Day is Oct. 12: Things to Know Before Rolling Over Your 401(k)

      National Savings Day is on Oct. 12, which serves as a strong reminder that building wealth is about more than just savings -- it’s also about making smart decisions with the savings you've already accumulated.

      One of the most significant financial decisions you’ll face is what to do with a 401(k) after you change jobs or prepare for retirement. A rollover may seem like a routine transaction, but being a smart investor means taking a closer look before making a move.

      Before rolling over your retirement savings, consider these three important points:

      1. A rollover is just one of many options

      Many workers assume the next step after leaving an employer is automatically rolling their 401(k) into an IRA. But a rollover is just one of several potential paths.

      Depending on your circumstances, you may be able to leave assets in your former employer's plan, transfer them to a new employer's retirement plan, or roll them into an IRA. Each option comes with different benefits related to fees, investment choices, withdrawal flexibility, and account services.

      That's why it’s important to evaluate all available options before making a decision. The easiest choice isn't always the best choice.

      2. Small fee differences can make a big difference

      When comparing retirement accounts, it’s easy to focus on investment performance without considering the impact of fees, which can make quite a difference.

      Some employer-sponsored plans offer institutional-quality investment options that can carry lower expenses than comparable investments available in retail accounts. Over years or decades, what seems like a minor difference in fees can significantly affect your retirement savings.

      Before initiating a rollover, take time to understand where your money will be invested, as well as what you'll pay for those investments and services over time.

      3. Retirement decisions deserve personalized advice

      It’s important to evaluate all of the factors that go into your rollover decision, and what that might mean for you as an investor.

      That means thinking about your retirement timeline, financial goals, current plan features, investment preferences, tax considerations, and broader financial picture. In other words, retirement planning is rarely a one-size-fits-all exercise.

      Your retirement savings likely represent years or even decades of hard work. The decisions you make about those assets deserve thoughtful analysis and professional guidance.

      Let Old National Help You Make the Right Move

      National Savings Day is the perfect time to review your retirement strategy and ensure your savings are aligned with your long-term goals.

      At Old National, our Wealth Management professionals help clients navigate important retirement decisions every day. Whether you're changing jobs, approaching retirement, consolidating accounts, or evaluating a potential rollover, we can help you understand your options, weigh the tradeoffs, and develop a strategy aligned with your financial objectives.

      A rollover may or may not be the most appropriate choice. The key is making an informed decision based on your unique circumstances.

      Before making a move with one of your most significant financial assets, connect with a local Old National Wealth Management wealth advisor. We can help you evaluate your options, identify potential risks and opportunities, and build a plan designed to help you pursue the retirement you've worked so hard to achieve.

      This National Savings Day, don't just focus on saving more. Make sure the savings you've already built are working as hard as you are.

       

      Disclosures:

      Old National Wealth Management is the umbrella marketing name/logo for wealth-related services, including Old National Wealth Advisors, Old National Private Banking and 1834 services. Old National Wealth Management, Old National Private Banking, and 1834 are not affiliated with LPL Financial.

       

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