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401k Rollover Options
When you leave your job, either voluntary or not, you have to make an important decision regarding your 401(k). Many aren’t familiar with all their options on what they can do with their 401(k), but making the wrong choice could cost you. Most people are familiar with the 401(k) rollover concept but still need some help through the process. Here are your options if you are faced with this decision.
Cashing out is not the Best Option
What money you put it in yourself, you can cash out and take it with you. If your employer has a match, you maybe subject to some sort of vesting schedule. Many people choose to cash out their 401k’s. The most common reasoning I here, especially for 401k plans that have matching, is that it’s “The company’s money” not “theirs“. Wow! Isn’t that great reasoning?
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