Objective information about financial planning, investments, and retirement plans

Comments

  1. This is a great overview of what you can do with an old 401(k). I’m still at my first employer since graduating from college, so I haven’t had to transfer any 401(k)’s at this point. That being said, it’s inevitable that I’ll have to go through it at some point. Thanks for the advice!

    • Roger Wohlner says:

      Jake thanks for your comment. You will certainly change jobs over the course of your career and it is vitally important that you keep track of your old retirement accounts and manage them. These accounts can really add up over time.

  2. Roger,
    Thank you for the helpful article. In rollover discussions, I very rarely see any mention of the additional ERISA protections that the employer sponsored 401(k) include and IRAs do not (That is my layman’s understanding.). These additional creditor protections seem to me an important risk management and mitigation benefit of the 401(k) vs. the IRA and for this reason I have chosen not to proceed with an IRA rollover. Not consolidating accounts, however, does create administrative hassle. What is your perspective on this? Thanks!

    • Roger Wohlner says:

      William thanks for your comment. Your point is valid and this is something to be considered. My understanding is that the levels of protection for an IRA vary by state and you or other investors with concerns about the level of asset protection afforded by your state should consult an attorney who is knowledgeable in the rules pertaining to your state.

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