Whats the best way to quickly evaluate whether I should roll over 401ks from previous jobs into my new 401k? – FiLife
March 25th, 2010
If you have left an organization and do not expect to return, it seems you can only complicate your life by leaving a 401k account behind. At the very least, you will have more statements and reports to keep up with. In 25 years as a fee-only financial advisor, there have been a number of cases where we discovered old retirement accounts our clients somehow “misplaced.” As they moved around, somehow the mail and reports didn’t follow them. I can feel pretty sure families have lost wealth this way. It may not have been a great deal, but why not bring your assets with you when you leave a job? Whether to bring it to the new employer’s 401k is another issue. We think it is better to collect these assets in an IRA.
Entry Filed under: Investing,Retirement Plans,Tax Issues
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