BONUS call: 401(k) Rollover
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 23 May 2017
⏱️ 6 minutes
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Summary
Nowadays it's a common occurrence to change jobs every few years, if not every few months. That means at some point you're going to have at least one, likely more, retirement accounts from past jobs. What should you do with them? Should you consolidate? That's what Andrew from Chicago was calling about on the latest BONUS call. He has about 100k in an old retirement account and was wondering if he should roll it into something new or just leave it where it is. The answer may surprise you... Have a finance question? We want to hear from you! Email us at askjill@betteroffpodcast.com and we'll arrange to get you on. Don't forget, a brand new episode of the Better Off podcast comes out Thursday so stay tuned for more listener questions plus an informative interview. Better Off is sponsored by Betterment. Please let us know what you think by leaving a rating or review in iTunes. Connect with me at these places for all my content: http://www.jillonmoney.com/ https://twitter.com/jillonmoney https://www.facebook.com/JillonMoney https://www.instagram.com/jillonmoney/ https://www.youtube.com/c/JillSchlesinger https://www.linkedin.com/in/jillonmoney/ https://soundcloud.com/jill-schlesinger http://www.stitcher.com/podcast/jill-on-money http://betteroffpodcast.com/ https://itunes.apple.com/us/podcast/better-off-jill-schlesinger/id431167790?mt=2
Transcript
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| 0:00.0 | Welcome to the Better Off Bonus Call of the Week. I'm Jill Schlesinger, your host. |
| 0:07.0 | Better Off is sponsored by Betterman, the smarter way to invest your money. |
| 0:11.0 | Okay, this is always one of my favorite parts of the week because this |
| 0:15.5 | gets you to pay attention to your money and that's all we want you to do. Just a little |
| 0:20.7 | bit of a not not an obsession but hey on your radar how about that if you would |
| 0:27.6 | like to get on the air with a question please let us know just send us email. Ask Jill at better off podcast. |
| 0:34.8 | And we would be delighted to have you on and of course stay tuned because |
| 0:39.4 | Thursdays we drop the longer show the Off Podcast, you can download the show and |
| 0:44.2 | subscribe anywhere you get your stuff, iTunes, Google Play, Stitcher, SoundCloud. |
| 0:49.2 | You can go to Better Off Podcast.com, we've got all the links right there. So right now let's go talk to |
| 0:53.9 | Andrew he is on the line from Chicago. Hi Andrew welcome to Better Off how are you? |
| 0:58.8 | I'm fantastic how are you? Great what can I do for you, sir? |
| 1:04.1 | Okay, so I'm in the process of kind of consolidating some retirement accounts, |
| 1:09.7 | and I have an old 4 to 1k with a former employer that was looking to roll into an IRA but |
| 1:17.5 | unfortunately the only way they can transfer the funds is cashing everything out and mailing a check. |
| 1:25.8 | What? |
| 1:26.8 | And I... |
| 1:28.8 | Will a horse and buggy deliver it to you? |
| 1:31.8 | Yeah, it's like a 1972 here. Holy smokes there's no |
| 1:36.2 | tape to tape transfer huh? No I've checked with I've checked with the provider and the only option is yeah |
| 1:46.0 | casting everything out and sending a check so I'm a little nervous about being out of |
| 1:50.4 | the market for you know who knows how long. |
... |
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