Better Choices for a Brighter Retirement

Or listen on Apple Podcasts or Spotify

Episode Summary:

Welcome back to another episode of The Empowered Planning Podcast! Even though we are still in February, we're tackling a question today that might not be about love, but it's definitely close to our hearts: what should you do with an old 401k? Whether you're deeply invested in plotting your financial future or just starting to ponder over your retirement savings, this episode is designed with you in mind. Navigating your options for an old 401k can feel like navigating a relationship: it's important, sometimes complicated, but ultimately rewarding. You may consider keeping it with your previous employer, moving it to your new job's plan, or rolling it into an individual retirement account. Each choice has its own set of advantages and disadvantages, and just like in any good partnership, it's all about finding the right balance that works for you. My goal for this episode is to equip you with the knowledge and confidence to make the best decision for your financial well-being. Today, we'll dive into actionable tips and strategies to enlighten you and pave the way for a secure financial future.

Topics:

• Why it is essential to understand your options with an old 401k as a key to maximizing retirement savings
• How to navigate the path of transitioning your retirement savings
• Why keeping your 401k where it is might be beneficial
• How to set up and manage your own IRA
• The importance of learning about the critical aspects of protecting your retirement assets

Resources:

• Rollover Checklist
• Social Finance, Inc. (SoFi)
• Fidelity Investments
• Robinhood