If you quit, get laid off or retire, you’ve got 4 options for your 401(k) savings:
- Leave the money with the your ex-employer
- Move it to your new employer’s plan (if that company allows it)
- Roll it to an individual retirement account (IRA)
- Cash out
Each choice comes with potentially negative consequences for your savings. Learn more in this article:
How to protect your 401(k) if you leave your job http://www.marketwatch.com/story/what-to-do-with-your-401k-if-you-leave-your-job-2011-06-01You thought the hardest part about saving for retirement was figuring out the best place to invest your money? Here’s another head-scratcher: what to do with your 401(k) when you leave your job.