Roll the funds over into an individual retirement account

canada goose What to do with your 401(k) from your last job, in 4 steps LearnVest Mar. 16, 2016, 10:09 AM Whenever you change jobs, you’re not only saying goodbye to your boss and co-workers, but also likely leaving behind a company-sponsored 401(k). In a nutshell, you have three choices to consider: Roll the money over into a new employer-sponsored 401(k). Roll the funds over into an individual retirement account (IRA). Or leave the money in your old 401(k) account. While there is technically a fourth option — cashing out your 401(k)— you should really consider avoiding this move. Why? You’ll likely have to pay penalties, not to mention that you’ll miss out on future compound growth. Ready to get the 401(k) rollover process, well , rolling? Here’s our 4-step quick guide. LearnVestWant to learn more about nest egg planning? Check out the LearnVest Retirement Knowledge Center.LearnVest Planning Services is a registered investment adviser and subsidiary of LearnVest canada goose outlet online , Inc., that provides financial plans for its clients. LearnVest, Inc., is wholly owned by NM Planning, LLC, a subsidiary of The Northwestern Mutual Life Insurance Company. Information shown is for illustrative purposes only and is not intended as investment, legal or tax planning advice. Please consult a financial adviser, attorney or tax specialist for advice specific to your financial situation. LearnVest Planning Services and any third parties listed, linked to or otherwise appearing in this message are separate and unaffiliated and are not responsible for each other’s products, services or policies. Read the original article on LearnVest. Copyright 2018. Follow LearnVest on Twitter. SEE ALSO: How to save for retirement if your company doesn't offer a 401(k) NOW WATCH: I woke up at 4:30 a.m. for a week like a Navy SEAL canada goose parka