Wondering What To Do With Your Old 401(k)? Here Are 5 Options
<p>Saving responsibly for retirement used to involve working for the same company for an entire career, then retiring on a pension. Today, it’s rare that anyone would stay at one company for so long; in fact, the average time that people stay at a job is 4.1 years. Retirement savings solutions have evolved to offer the workforce different methods to responsibly prepare for their future finances. The most common retirement savings strategy offered by employers is a 401(k) savings plan, which allows employees to save pre-tax income in a managed fund.</p>
<p>It’s worth asking, though: if people stay at their jobs for only 4 years and open a 401(k) at a job that they leave, what happens to that money?</p>
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