Hello and

welcome to Moneygirls quick and dirty tips for a richer life.

I'm Laura Adams.

Lately I've received several emails from listeners who are wondering what they should do with their 401k retirement savings after they leave a job.

Here's a question from a listener named Ben.

I need some advice on my 401k account.

I'm in my early 20s. I just resigned from my job and moved to Asia. I wonder what's the best

thing to do with my 401k account. I only have about a thousand dollars in it.

Thanks Ben, I appreciate your question. One of the great features of workplace retirement plans, such as the popular 401k, is that they're portable.

That means you can take your money with you when you leave a job.

Before I give you the options for what to do with your 401k money,

I'll give you a brief overview of the three different types of 401k plans.

The type of plan you have, the terms of the plan document, as well as how much the investment has gained or lost, will determine the actual amount of money that you can take with you.

The three different types of 401k's are the traditional, safe harbor, and simple

plans. Each one allows an employer to deduct money from your paycheck before taxes are taken out and send it to your retirement

account. All three 401k types also allow your employer to contribute money to your account.

That could be done as matching funds or profit sharing funds, for example.

So let's discuss how the three plan types are different.

With a traditional 401k, an employer can create a vesting schedule for the contributions they make to your account.

Vesting schedule is simply a timeline that shows how long you have to work for a company

before you're legally entitled to the money they've

contributed for you. A typical vesting schedule could be something like

...