The 401(k) Rollover Misstep That Could Cost You

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.8 • 1.6K Ratings

🗓️ 30 July 2024

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

When people change jobs, their 401(k) retirement funds often wind up in individual retirement accounts, or IRAs. Wall Street Journal reporter Anne Tergesen joins host J.R. Whalen to discuss misunderstandings about the rollover process that can limit savers’ potential for growth. Sign up for the WSJ's free Markets A.M. newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	If just thinking about your bills makes you feel confused and disorientated,
0:05.0	like your head is full of Raspberry,
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0:15.0	Money never felt like Monzo.
0:18.0	UK residents, T's and C supply.
0:20.0	Here's your money briefing for Tuesday, July 30th.
0:26.7	I'm J. R. Whelan for the Wall Street Journal.
0:31.5	When they change jobs, many people choose to roll over their 401k retirement savings into an individual retirement account or IRA.
0:39.0	But then, they don't follow through.
0:42.0	A lot of people, especially those who are younger who have benefited from automatic enrollment in 401k plans,
0:48.0	they assume that IRAs work the same and that they might realize, okay, I have to transfer transfer that money but once it's in the
0:54.2	account it will be automatically invested for me and it's not it's gonna say in
0:59.3	cash and that means they can miss out on significant growth.
1:03.0	Wall Street Journal Retirement Reporter Ann Turgison will talk about how to make sure your retirement
1:07.4	savings don't miss a beat.
1:09.6	After the break. Hey Prime Members, did you know you could be listening to this show
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1:35.0	To listen to your favorite podcasts without ads,
1:38.0	simply download the Amazon Music app or visit Amazon.com slash W.S.J.
1:44.0	That's Amazon.
1:44.8	com slash W.S.J. A critical mistake people often make when rolling over their retirement savings can cost
	...

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