You’ve left your job but still have a 401(k) plan with your former employer… now what? You have four options on how to move forward. These options include: do nothing, roll into your new employer’s 401(k) plan, roll into an individual retirement account (IRA) or cash out immediately. As a fiduciary financial planner in Los Angeles, I will highlight the pros and cons of each choice below to help you make an informed decision.
How do you start? This is one of the most important questions in saving for retirement. Whether planning for retirement in Los Angeles or elsewhere, you should start by building a retirement plan customized to your unique financial situation.