Leaving Your Job? What To Do With Your 401k Plan Money.

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Why are you leaving or quitting your job?

Do you have another job lined up?

Do you just want to get out of the 9-5 grind and start a business or side hustle?
Depending on what you want to do, there are different things you can do with your 401k plan. If you need some cash to seed a new business then you should cash out some of your money. If you are moving to a new job see if they will take a rollover into the new job’s 401k plan. If not, then roll it into an IRA so you can manage the money yourself.

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00:00 - Intro
00:33 - Why are you quitting your job?
00:52 - What I would do with my 401(k) if I didn’t have a new job lined up.
02:08 - What to do if you are quitting one job to start a new one
03:34 - Setting up your 401k at the new job.
05:47 - What are Target Date Funds?
08:06 - A client called with a question about their 401k.
09:53 - What to do with old 401k’s.

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Disclaimer.
The videos on this channel are for educational and general informational purposes only and are not intended to provide specific advice or recommendations for any individual. As such, it should not take the place of consulting with a certified financial planner, CPA (or other tax professional), legal, or other financial advisor. While we try to provide accurate and timely information, it may not be suitable for your specific personal scenario or specific circumstances. I am a financial professional but without knowing your specific information you should consider what you learn here as general advice. If you want specific advice and coaching please contact us at hello@financialselfreliance.net. I am not a tax, legal or investment advisor representative.

Our coaching is based on the data and research found in the books The Millionaire Next Door, The Next Millionaire Next Door, and The Millionaire Mind by Thomas J. Stanley and Sarah Fallaw. It is also based on 20 years of my personal experience working with money.

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