If your employment has changed, please don’t forget to take your 401(k) with you. Chances are, because you’re good at what you’re doing, you may not know all of the details and complexities associated with the investment that your hard-earned, and in some cases, employer-matched resources, are in. It could be that they are progressing fine in light of the market. It could be that they are not and of course, you are paying management fees out of your account, regardless.

A 401(k) account is an employer sponsored retirement plan that a person voluntarily participates in. If you are not with your employer and you bring these funds with you, it then becomes an IRA (Individual Retirement Account). Whether you are employed elsewhere and have the opportunity to participate in their plan or not, does not affect the choice you make with the last employer’s retirement funds account.

I encourage people to always participate in any employer’s 401(k), but each time your employment changes, start fresh with the new employer. Keeping your existing funds in your own ownership and control. This will provide you safety. In my industry, safety means guarantee of principle. Guaranteed minimum rates of return and tax deferral. P.S. No gamble, safe, solid and secure. Call me for more details.