Description

In this episode of Peeling Back Money and Life, Casey and Mike tackle a common dilemma faced by many workers: what to do with an old 401(k) plan. Whether you've recently changed jobs or have a long-forgotten retirement account from a previous employer, this episode breaks down your three main options: leaving it with your old employer, rolling it to your new employer's plan, or moving it to an IRA. We discuss the pros and cons of each approach, important considerations like fees and investment options, and provide actionable steps to help you make an informed decision about your retirement savings.

Key topics covered:

• Understanding workplace retirement plans (401k, 403b, 457)
• The three main options for managing old retirement accounts
• Important factors to consider when making your decision
• How to find forgotten retirement accounts
• Steps to take action on your old 401(k)

Resources

National Registry of Unclaimed Retirement Benefits⁠www.unclaimedretirementbenefits.com⁠

IRS: Rollover Rules⁠IRS Rollover Guidelines⁠

Episodes

• ⁠When NOT to do a Roth Conversion⁠
• ⁠How and Why to do a Roth Conversion⁠
• ⁠Steps to Take When Choosing Investments Inside Your 401k⁠