{"id":129,"date":"2010-04-13T01:53:19","date_gmt":"2010-04-13T01:53:19","guid":{"rendered":"http:\/\/www.myfinancialfocus.net\/mainsite\/?p=129"},"modified":"2025-08-24T06:39:18","modified_gmt":"2025-08-24T10:39:18","slug":"will-you-continue-to-hold-on-to-your-old-401k","status":"publish","type":"post","link":"https:\/\/www.myfinancialfocus.net\/mainsite\/index.php\/will-you-continue-to-hold-on-to-your-old-401k\/","title":{"rendered":"Will You Continue to Hold on to Your Old 401(k)??"},"content":{"rendered":"<p>Many today find themselves separated from previous employers.\u00a0 When they left, voluntary or involuntary, one of the things they may have left behind was their 401(k) or associated personal retirement account.\u00a0 Does this apply to you?<\/p>\n<p>People leave this behind for several reasons.\u00a0 Some of those reasons include:<\/p>\n<ul>\n<li>Did      not know I could move it.<\/li>\n<li>It was      doing well where it was.<\/li>\n<li>Have      no idea how to move it.<\/li>\n<li>I do      not want to pay taxes on that money.<\/li>\n<\/ul>\n<p>Additionally, some people actually move it to a new employer\u2019s 401(k).\u00a0 While moving it is not a problem, many people do so in order to allow them to tap into the account in the future for a loan.\u00a0 Not a good idea.\u00a0 Another subject, another time.<\/p>\n<p>Back to those accounts that are still with previous employers.\u00a0 Did you know that your opportunities for investment are much greater in an account with a brokerage firm?\u00a0 In most 401(k)\u2019s the investment funds are lacking when compared to all the available funds to invest in.\u00a0 As you may leave a company, take this opportunity to move to a new account.<\/p>\n<p>Roll over your funds to a qualified IRA Rollover account.\u00a0 This account will allow you to move your 401(k), 403(b), etc. account to another tax deferred account.\u00a0 When done properly, there are no taxes incurred in this transfer.<\/p>\n<p>How do you do it?<\/p>\n<ul>\n<li>Find      your new account brokerage firm<\/li>\n<li>Open an      IRA Rollover account.<\/li>\n<li>Work      with your new company to determine all account info to allow for a smooth      transfer.<\/li>\n<li>Fill      out the appropriate paperwork with the old company and initiate the      transfer.<\/li>\n<\/ul>\n<p>In most cases, your former account will be liquidated and the cash transferred to your new account.\u00a0 Once there it is time to find the best investment opportunities and watch your money grow.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Many today find themselves separated from previous employers.\u00a0 When they left, voluntary or involuntary, one of the things they may have left behind was their 401(k) or associated personal retirement account.\u00a0 Does this apply to you? People leave this behind for several reasons.\u00a0 Some of those reasons include: Did not know I could move it. [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,5],"tags":[],"class_list":["post-129","post","type-post","status-publish","format-standard","hentry","category-coaching","category-invest"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Will You Continue to Hold on to Your Old 401(k)?? - Financial Focus<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.myfinancialfocus.net\/mainsite\/index.php\/will-you-continue-to-hold-on-to-your-old-401k\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Will You Continue to Hold on to Your Old 401(k)?? - Financial Focus\" \/>\n<meta property=\"og:description\" content=\"Many today find themselves separated from previous employers.\u00a0 When they left, voluntary or involuntary, one of the things they may have left behind was their 401(k) or associated personal retirement account.\u00a0 Does this apply to you? People leave this behind for several reasons.\u00a0 Some of those reasons include: Did not know I could move it. 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