Renters are struggling, and what to do with an old 401(k)

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2 • 665 Ratings

🗓️ 31 August 2020

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Renters are far more likely to be struggling in the pandemic than homeowners. Also, don’t put off a 401(k) rollover. If you want to move money out of an old employer’s plan, ask if your new employer will take it or consider rolling over to an IRA. Send us your money questions! Email [email protected] or call or text the NerdHotline at 901-730-6373. And visit www.nerdwallet.com/podcast for more info on this episode. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Ready to launch your business? Get started with the commerce platform made for entrepreneurs.
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0:33.9	Welcome to the NerdWallet Smart Money Podcast, where we answer your personal finance questions
0:38.6	and help you feel a little smarter about what you do with your money. I'm Sean Piles.
0:43.2	And I'm Liz Weston. As always, be sure to send us your money questions. Call or text us on the
0:47.5	nerd hotline at 901-7306373. That's 901-730 Nerd. Or email us at podcast at nerdwollet.com. We're here to help you, so please keep those questions coming.
1:00.2	Also, if you want more nerdy goodness delivered to your device every Monday, hit that subscribe button.
1:05.5	And if you like what you hear, leave us a review. On this episode, Liz and I are talking with
1:10.2	investing nerd Tiffany Lamb-Belfour
1:12.1	about how to handle retirement accounts from old jobs. But first in our this week in Your Money
1:17.8	segment, we're joined by another Liz, Liz renter, a nerd who does a lot of data journalism
1:23.1	at NerdWallet. She's here to talk with us about a new report she published about how renters
1:27.3	have been
1:27.7	impacted by the pandemic. Hey, Liz. Thanks for joining us. Hey, Sean. Hey, Liz. I'm excited to be here.
1:33.8	We are really happy to have you because we know that this report is really timely. A lot of renters are
1:38.1	having a hard time right now. So just to start it off, can you tell us what were some of the key findings of your report?
1:45.0	Yeah, sure. So I think the main finding is that renters are more likely to be hit hard by a
1:51.3	financial crisis, and that's the current financial crisis that we're living in and really any
1:56.2	financial crisis. So as an example, we did a survey in May where we found half of renters had used their
	...

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