ENROLLING in a 401(k) has never been easier, now that about two-thirds of large employers automatically sign up new employees in their workplace retirement plans. And thanks to the growth of set-it-and-forget-it target-date funds, investing the contributions to your 401(k) is a lot easier, too.
But if you leave your job or retire you’ll need to make some important decisions about the future of your 401(k) plan. You’ll also get a lot of advice about how to invest the money, particularly from financial institutions that offer rollover IRAs.
Rolling over your 401(k) to an IRA could provide you with more investment options than your former employer’s 401(k) plan had. It could also give you more control of your account, particularly once you retire. If you’ve worked for several different employers, rolling over your orphan 401(k) plans into an IRA also provides a way to consolidate your savings.
But your retirement security could be jeopardized if you roll over your funds into an IRA that charges high fees for subpar investments. And most workers don’t realize that IRA providers are not subject to the same investor protections that cover their 401(k) plans—a situation the Biden administration wants to change.
هذه القصة مأخوذة من طبعة February 2024 من Kiplinger's Personal Finance.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة February 2024 من Kiplinger's Personal Finance.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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