A recent study done by The Charles Schwab Corp. says that 43% of the 401k assets belonging to participants who were terminated from their jobs in the first quarter of 2008 are still sitting in their former employers' plans. (Schwab analyzed the transactions of nearly 10,000 terminated participants in its Schwab Retirement Plan Services division.)
Do you know that you can transfer your assets from an old employer's 401k plan to an IRA? Why would you want to do that? Because you want more control over how the money is invested. Most 401k plans limit the number of funds you can invest in. Why not have the whole universe of funds to choose from?
And if you don't want to handle this transition yourself and/or make your own investment decisions, hire a professional financial planner/investment advisor to help.
Just don't be complacent -- take control of your money and get it working for you in the best possible way! Do it today!!!
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