Capitalize Reviews

Capitalize Reviews
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About Capitalize

Founded in 2019, Capitalize is a free concierge platform that helps you find and transfer your old retirement accounts into an individual retirement account (IRA) that suits your needs. Not only does it simplify the rollover process, but it also offers an IRA comparison tool and experts to help you move your money without tax issues. The company is paid by its partners when you roll over your plan — so you will never see a bill.

Pros & Cons

  • No fees
  • All online
  • Not for 401(k) transfers
  • No pension plans

What is Capitalize?

Based in New York, Capitalize is a financial technology company that helps individuals move their old 401(k) or other employer-sponsored retirement plans into an IRA of their choice. Additionally, the company can find old retirement accounts when you have lost track of them — such as when you switched jobs.

The company can help roll over 401(k)s, 403(b)s, 401(a)s, 457s and Thrift Savings Plans (TSPs). It does not currently help with pension plans.

How does Capitalize work?

Signing up with Capitalize is simple and completely online. You provide the company with basic information about your old retirement account. If you cannot locate your account details, Capitalize can help find old or forgotten accounts. After you select your current retirement account and your desired transfer destination, it manages all the subsequent steps.

Capitalize handles everything from locating your old plan to completing all the necessary paperwork, even liaising with your retirement account provider. This way, you can transfer your old retirement accounts into an IRA under your control without the usual hassle.

Capitalize cost

Capitalize does not charge any fees for its services. Its IRA partners pay the company at the completion of a successful rollover.

Additionally, Capitalize can help you save money if you switch to a retirement account with lower fees. The company says it found that 2 out of 3 Americans are in the dark when it comes to how much they are paying toward their 401(k) fees.

Capitalize FAQ

Can Capitalize roll over retirement accounts into a new 401(k)?

Capitalize primarily assists with rolling over old 401(k) accounts into IRAs, not into new 401(k) accounts. This is due to the complex nature of 401(k) rollovers and the fact that new 401(k) plans might have rules against rolling over old funds.

Which IRA providers does Capitalize work with?

Capitalize works with several IRA providers, including SoFi, Betterment, E*TRADE, Vanguard and Robinhood at the time of publishing. The exact providers may vary, so it's best to check the Capitalize website for the most up-to-date list.

What if I have multiple 401(k)s?

Capitalize can help you consolidate multiple old 401(k)s into a single IRA, simplifying your retirement savings.

Can I do another rollover if I don’t like the IRA provider?

Yes. If you are unsure about which provider to choose and end up not liking your choice, you will have the option to switch to a new IRA provider at any time in the future.

Is Capitalize worth it?

If you need help rolling over an old retirement account or want to switch to an IRA with better fees, then Capitalize’s free and fast service could be worth it. If you are looking for a more in-depth financial planning experience or a financial advisor, Capitalize will only be able to focus on your retirement accounts and might not be the best fit for you.

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