The Biggest Mistake You Can Make With An Old 401(k)

When you change jobs, you’ll need to decide what to do with your old 401(k). A common choice is to roll the old 401(k) into an IRA, which can be a great option. But according to a recent Vanguard study, 28% of investors who did a 401(k) rollover into an IRA were in cash one year later. Worse even: the majority didn’t realize their retirement savings weren’t invested and most workers who started in cash, stayed in cash for at least seven years. Retirement accounts are often ignored, especially when spread across multiple institutions. Here’s how to fix it.

Avoid Costly Mistakes With A 401(k) Rollover

Rolling an old 401(k) over to an IRA isn’t an overly complex process. But often, investors are too quick to move onto the next thing, forgetting necessary follow ups and periodic account reviews. Here are a couple pro tips when it comes to managing your retirement investments.