How to Handle Your 401k when Switching Jobs (Avoid These Mistakes)

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In this video, I’ll walk you through the different options for handling your 401(k) when changing jobs. Making the right choice can significantly impact your financial future, so it’s important to understand all the options available to you. Whether you’re considering rolling your 401(k) into your new employer’s plan, leaving it with your old employer, or moving it to an IRA, this guide will help you weigh your options and make an informed decision.

0:00 - Overview
0:19 - 1st option: Taking a Distribution
0:43 - 2nd option: Leaving Money in Your Old 401(k)
1:20 - 3rd option: Rolling Over to a New Employer's 401(k)
1:52 - 4th option: Moving Your 401(k) to an IRA
4:58 - Recap
5:14 - Final Thoughts
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🚀 Disclaimer: This podcast is for educational purposes only and does not constitute financial advice. Consult with a qualified professional before making any investment decisions.
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Moving your 401(k) to an IRA when changing jobs provides more investment flexibility, potentially lower fees, and simplified management, while also protecting your retirement savings from potential changes or restrictions in your new employer's plan.

LilianScott-dynz
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Thanks for the info. Could you consider doing video on what your brokerage firm offers.

xiomaragomez
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Hey Mat, I sell 401ks. The legal limit to have a company roll your money out is 7k or below. Anything above 7k they can't touch. Great video.

stevedaddio
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Great video! Thanks for the info on the options, far better info here vs the HR department lol.

PS-wvkk
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I’m so mad I rolled over to IRA..ruined the potential to backdoor Roth without extra taxes

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