I’ve Recently Changed Jobs. What Should I Do with My Former Company’s 401(k)?

If you’ve recently changed jobs and you had a 401(k) at your previous company, you’re probably wondering what to do with that 401(k). You have a couple of options.

Sometimes, you can leave it with your previous employer, and that may be OK for a while, but eventually, they’ll probably want you to move it off their platform. And so your choices are going to be move it to your new employer’s 401(k) or move it into an individual retirement account (IRA).

Now, the main difference is that at your 401(k), you’re going to have some limited investment choices, and in an IRA, you’re going to be managing it yourself, so the whole world of investments is open to you.

Parkshore Wealth Management is a family-owned, independent, fee-only Registered Investment Advisor serving the greater Sacramento area with an office in Roseville, CA. We partner with financially responsible individuals and families who are eager to take positive steps that will allow them to use their money to build the life they desire. The firm is led by Harold Anderson, CFP®, and Daniel Andersen, CFP®, both members of NAPFA, the country’s leading professional association of fee-only financial advisors.