If you have changed jobs a few times, you probably have old 401(k) accounts sitting with past employers, and you are not sure whether to roll them into an IRA, move part of the balance into an annuity, or leave them where they are. This page is for the financial delegator near The Woodlands who wants one person to organize those scattered accounts and handle the moves without stumbling into taxes or penalties. I am Peter Catalano, and below I explain what actually causes penalties when retirement money moves, how I help you decide between an IRA and an annuity, and what the work costs.

What actually causes penalties when you move retirement funds?

Most rollover penalties come from how the money moves, not from the decision to move it. The IRS recognizes two methods, and they carry very different risks.

A direct rollover (also called a trustee-to-trustee transfer) sends the money straight from your old 401(k) to the receiving account. Nothing is withheld, nothing is taxed, and there is no 60-day clock to beat. This is the method I use for almost every client, because it removes the mistakes before they can happen.

An indirect rollover is where trouble starts. When a 401(k) plan writes the check to you instead of the new custodian, it withholds 20% for taxes, and you then have 60 days to deposit the full original amount into an IRA, including the 20% that was held back out of your own pocket. According to rolloverguidance.com’s 2026 breakdown of the 60-day rule, this withholding gap is the principal cause of missed deadlines. Miss the window, or fail to replace the withheld portion, and the shortfall becomes a taxable distribution plus, if you are under 59½, a 10% early withdrawal penalty.

One more rule catches people who already have IRAs. RolloverGuidance also notes that you may only do one IRA-to-IRA 60-day rollover in any 12-month period. Break it, and the second rollover becomes fully taxable, with the same 10% penalty under age 59½. That limit does not apply to moving a qualified plan like a 401(k) into an IRA, which is one reason consolidating old plans is usually cleaner than shuffling existing IRAs around.

IRA or annuity: which one fits your old 401(k)s?

The right choice depends on what you need that money to do. There is no single answer that fits every household, and anyone who gives you one before looking at your full picture is selling, not advising.

Rolling an old 401(k) into an IRA keeps the money invested, keeps your investment choices broad, and keeps costs low. For most people consolidating several accounts, this is the starting point, because it brings everything under one roof where it can be managed as one portfolio. You can read more about what a rollover can do for scattered accounts.

Moving part of a balance into an annuity makes sense when your bigger worry is income you cannot outlive rather than growth. An annuity can convert a portion of your savings into payments that continue for the rest of your life, backed by the insurance company that issues the contract. I work with carriers including Athene, Nationwide, Lincoln Financial Group, National Life Group, and Aspida, so I can compare real products rather than one company’s shelf. Whether an annuity belongs in your plan is a question of how much predictable income you want and how much you want to keep invested for later.

In practice, many households use both: an IRA for the long-term growth money and an annuity for a dependable income floor. I believe my job is to show you the trade-offs plainly and let the decision stay yours.

What happens when we work through your old 401(k)s together?

We start by getting every account on one page, then decide what moves and how. Most engagements begin with the Financial Roadmap, a $500 fixed-fee review where we gather your statements, clarify your priorities, and produce a written plan with prioritized next steps. If you want me to then build and carry out a full strategy, the $500 is credited toward Comprehensive Financial Planning when you engage within six months.

The planning work follows five phases: discovery, analysis, plan development, plan presentation, and implementation coordination. I generally complete the written plan within 30 days after I have your signed agreement, fee, and documents in hand, though timing shifts with how complex your accounts are and how fast paperwork comes back from old custodians. Every rollover I coordinate uses direct transfers wherever the plan allows, so the 20% withholding trap and the 60-day clock never become your problem.

Inquiries are acknowledged within one business day. A client came to me last year wanting to consolidate his retirement accounts. He had worked for four different employers, and each one still held a piece of his 401(k). We gathered the paperwork, moved everything into a single IRA, and now he can see his full picture in one place. He tells me it’s easier to make decisions when he’s not logging into four different sites to figure out what he actually has.

What does this cost?

Here is how the fees work across the services most relevant to consolidating old retirement accounts.

Service	Fee
Financial Roadmap	$500 per household (credited toward Comprehensive Financial Planning if you engage within 6 months)
Comprehensive Financial Planning	$6,000 per household
Strategic Portfolio Management	1.25% per year on the first $1,000,000; 0.80% from $1,000,000 to $5,000,000; 0.50% above $5,000,000 (generally $250,000 minimum)
Strategic Wealth Partnership	Generally begins at $15,000 per year
Annuities and life insurance	No separate advisory fee; premiums vary, and Catalano Financial may receive commissions from the insurance company

Planning fees can be paid directly by you. Investment management fees are generally deducted from the managed account. Custodians and funds charge their own separate costs, such as fund expenses and transaction fees, which I do not receive.

Why work with Catalano Financial?

I have worked in financial services since 1992, and Catalano Financial is a registered investment adviser in Texas. I hold the CLU and ChFC designations, and I am insurance licensed in Texas, Colorado, California, and Missouri. When I give investment advice, I act as a fiduciary, which means I recommend an annuity or any insurance product only when I believe it fits your objectives and overall plan.

Many of the people I work with have accumulated 401(k)s, IRAs, brokerage accounts, and old insurance policies from different employers and stages of life, and they want one professional to pull it together into a strategy they can actually follow. Investment results are not something I control, and I will never present them as certain; what I offer is advice built around your circumstances and goals.

Catalano Financial is based at 1095 Evergreen Circle, Suite 200, in The Woodlands, Texas. I work with clients in The Woodlands, greater Houston, and across Texas, and I serve clients elsewhere where I am permitted.

How do I get started?

Book a discovery call at savvycal.com/catalanofinancial/discovery-call or call 832-696-0990. If you prefer, you can talk with a chartered financial consultant first and decide from there.

Frequently asked questions

Will rolling an old 401(k) into an IRA trigger taxes or penalties?

Not when it is done as a direct trustee-to-trustee transfer, which moves the money from your old plan straight to the new account with nothing withheld and no 60-day deadline. Penalties typically show up with indirect rollovers, where the check comes to you, 20% is withheld, and the money has to be fully redeposited within 60 days. I coordinate direct transfers so that risk stays off your plate.

Do I have to move my money to work with you?

No. Most people start with the $500 Financial Roadmap, where I review your accounts and give you a written plan with next steps. Some clients carry it out on their own, and others ask me to handle the rollovers and ongoing management. The choice stays yours.

How long does it take to consolidate several old 401(k)s?

I generally complete a written financial plan within 30 days after I have your signed agreement, fee, and documents. The actual transfers can take longer depending on how quickly your old custodians release the funds. I acknowledge new inquiries within one business day.

Where do you serve, and what are you licensed to do?

I am based in The Woodlands, Texas, and serve clients there, across greater Houston, and throughout Texas, plus other states where permitted. I am a registered investment adviser in Texas and insurance licensed in Texas, Colorado, California, and Missouri, and I hold the CLU and ChFC designations.

What is the first appointment like?

The first step is a discovery call where we talk about your old accounts, your priorities, and what you want your retirement money to do. There is no pressure to buy anything. You can book it at savvycal.com/catalanofinancial/discovery-call or call 832-696-0990.