I was surprised by this recommendation-- I'd read it's better to leave a 401k as a 401k than to move it to an IRA because there are better protections and investment options. But I guess as with all things personal finance, it depends.
The investment options is definitely a big old “it depends” because there are a lot of fee-riddled 401(k) plans where you’d get a better deal moving to an IRA when an employer match is no longer on the table. As far as protections, that’s more for if you think creditors are coming for you and whether IRAs are protected from creditors is a state-by-state thing.
Great article w/very helpful information that was clearly & succinctly explained. Thank you and keep up the great work. 🙋🏽♀️
Thanks!
I was surprised by this recommendation-- I'd read it's better to leave a 401k as a 401k than to move it to an IRA because there are better protections and investment options. But I guess as with all things personal finance, it depends.
The investment options is definitely a big old “it depends” because there are a lot of fee-riddled 401(k) plans where you’d get a better deal moving to an IRA when an employer match is no longer on the table. As far as protections, that’s more for if you think creditors are coming for you and whether IRAs are protected from creditors is a state-by-state thing.
Ooo great to know!