Changing jobs? Left a company but left your 401(k) behind? It’s very common.
Unless you take action, when you leave an employer your 401(k) stays behind. The smart thing to do is to do a “rollover” into an IRA. But that requires you to take action and many people never take action because they either have other things on their mind or they don’t know what eles to do. Now it looks as if some companies are going to force them off their rolls. The Wall Street Journal tell us that a number of firms are handing out another kind of pink slip: booting former employees from 401(k) plans.
These people may not know it but their old employer is doing them a favor. Money left in old 401(k) plans is rarely managed the way that it should be.
If you have an old abandoned 401(k) give us a call and see if we can help you put this money to work for you.