Should I Roll Over Old 401(k)?

Jill on Money with Jill Schlesinger

Audacy

Investing, Education, Business, Self-improvement

4.6 • 1.9K Ratings

🗓️ 9 February 2021

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

It seems like just about everybody has an old workplace retirement plan floating around out there. What should you do with it? Roll it over or leave as is?

Have a money question? Email me here.

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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

Transcript

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0:00.0	Welcome to the Jill on Money Podcast. It is Tuesday, February 9th. And you know what's so sad
0:11.2	is that after the Super Bowl, I really do think that Mondays after Super Bowl should be national
0:16.9	holidays and we should be able to sleep late. And I thought that, you know, oh, I'm looking so
0:21.6	forward to President's Day. But then I found out that I actually have to do something for work
0:26.3	on President's Day. So I'm bummed. So anyway, let me just say this about that. It's all right. I
0:32.7	like it. I'm with you guys. It'll be a long way to my next holiday, I guess. But, uh, well,
0:39.3	we'll make do. Well, no, what's the next day that I get off? No, it can't be Memorial Day. I think
0:45.6	the markets are closed on weirdly. Markets are still closed on Good Friday. That may be it. It
0:52.3	could be a long March for me, Mark. I feel bad for you because you know how cranky I get when I don't
0:56.5	get a day off, right? Anyway, uh, okay. So if you've got a financial question, give us a shout.
1:05.2	Our email address is ask Jill at Jillonmoney.com. Ask Jill at Jillonmoney.com. You know, again,
1:13.9	if you'd like to come on the air with us, it's so great because then we can ask follow-up
1:18.0	questions. We can do the stuff that, you know, is important and takes the burden off of you
1:24.0	in some respects because I'll do the heavy lifting and ask questions and ask follow-up questions
1:28.0	because sometimes it doesn't, you know, you send us what is appears to be all of the information
1:33.0	we need and then maybe missing a couple of things. Okay. So as a result, when you don't come on the
1:42.4	air, I'll sometimes say, well, I need more information. Well, guess what? This is one of those
1:46.8	fabulous moments where someone then followed up with that information. So Michelle had asked us,
1:54.7	she wanted to retire and she said she was going to work till her full retirement age, which was
2:00.8	66 and 10 months. And now she's like, do I have enough to retire on? And so she had a, you know,
2:07.4	she's got a bunch of money. She's got a pension and she's got some Roth IRAs and some
2:13.2	Rollover IRA money. It's more than a million dollars, which is really pretty great.
	...

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