Tag Archives | cashing out 401k when leaving job
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Leaving Your Job? Take Good Care Of Even The Smallest Retirement Accounts

Most small 401(k) retirement accounts don’t get the respect they deserve. The majority of employees, especially the younger ones, cash out their small 401(k) accounts when they leave their employer for a new job elsewhere. Eight out of ten small accounts (defined as those with balances under $1,000) are cashed out. Over 60% of balances […]

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Leaving A Job? Don’t Cash Out The 401k

Leaving your job? Whatever you do, don’t cash out your 401(k) and spend the money. Unfortunately, that is a very common mistake made by younger workers. According to a study by Fidelity Investments, 41 percent of plan participants ages 20 to 39 cashed out a 401(k) when leaving their job last year, the highest of […]

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