Leaving Your Job?  Don’t Forget to Pack Your 401k

“The Great Resignation” isn’t an exaggeration. An average of almost 4 million resignations took place every month in 2021.

Plan your rollover

If you’re making plans to leave your job, check in on your retirement account before your last day. Make sure you can access your plan with a non-company login. 

A rollover IRA is an IRA you move over from your old employer to an individual retirement account or IRA.

How to rollover your 401(k)

1. Get a new retirement account.  Open an IRA account at any investment firm you like that accepts rollovers.

2. Move over your money. You’re usually given a set time frame to move over your money after leaving your job. The time could be 30 to 90 days, depending on what the company sets up. 

3. Close down 401(k).  Once your transaction is complete, you can close down the account you have with your old employer. 

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