Few life events are more stressful than a job loss. If you or someone you know is in this situation, you’ll likely have several questions about job hunting, unemployment insurance, and health care. You may also be wondering, “What should I do with my 401(k)?” People leaving an employer typically have four options with their 401(k) retirement plan, but it’s not an all-or-nothing decision. Depending on your situation, it may be possible to engage in a combination of these options:
Each choice offers advantages and disadvantages. If you are uncertain what action to take with your retirement accounts, please reach out. Over the years, we’ve found the best financial decisions are the ones that consider all available options. This commentary was created by and shared with permission from [FMeX] for informational purposes only. The views expressed are those of the author. This reprint should not be construed as an offer to sell or a solicitation of an offer to buy any product. Aspire Planning Group, LLC (Aspire), cannot guarantee the accuracy or completeness of statements or data herein. The commentary does not take into account any investor’s particular investment objectives, strategies, tax status, or time horizon. There are no assurances that the techniques and strategies discussed are suitable for all investors or that the predicted results will occur. The commentary does not constitute investment advice, tax advice, or legal advice. All investments are subject to risk, and past performance is no guarantee of future results. |
Know your 401(k) options between jobs
February 01, 2023