Not sure what to do with your 401(k) if you've changed jobs? Here are your options. investinyou (In partnership with acorns.)
There are a lot of things to think about when you switch jobs, including what to do with the money you may have accumulated in your employer-sponsored retirement account, or 401.
You can always decide to do nothing. You won't lose your contributions, or your employer's matching contributions if you're vested, by leaving your money in your old plan.Take the money in a lump sumYou are certainly free to cash out your 401 when you leave your job. "If you blow your retirement savings when you're age 30 ... that means you're going to have to work a heck of a lot harder to be able to accumulate what you need for retirement later on," he added.
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