When you switch jobs, you might be left wondering what to do with your old 401K. Should you roll it over into your new employer's plan or just let it be? Todd Pietzsch from BECU has some advice for you.
If your previous employer is a large company, they might offer low-cost funds and good diversification options. In such cases, it might be a good idea to keep your old 401K where it is. However, if your old 401K has limited investment options or high expenses, you should consider rolling it over into an Individual Retirement Account (IRA).
An IRA can provide you with a wider range of investment options and potentially lower fees. Plus, consolidating your retirement accounts can make it easier to manage your investments and track your progress towards your retirement goals.
Remember, the right choice depends on your individual circumstances. Consider your investment options, fees, and personal preferences before making a decision.