Rollover Center When you change jobs or retire you have several choices when deciding what to do with your 401(k) from a former job. While you may cash out a portion or all of the money in the plan, this can be costly as the funds withdrawn may be subject to ordinary income taxes and potentially a 10% penalty. Generally, there are three options that are important to consider before making a decision. At Heirloom Wealth Management we think it is important to understand how your choice effects your Live Well Plan. With an in depth knowledge and understanding of your personal situation your advisor is well positioned to educate you on your options and how your choice effects your plan. Click here to view some factors for you to consider in side a by side comparison. While there are many other things to consider this is a good starting point.