If you have money in a 401(k) from a past employer, you’re probably wondering what you should do with it. You have four choices: Keep it in your previous employer’s plan, roll it over to your current employer’s plan, roll it over into an IRA, or cash it out.

While your final decision should be based on your own unique circumstances, there are three key considerations to keep in mind when determining which choice is right for you:

• Fees
• Access to your money
• Investment choices

We’ll break down each key consideration so you can determine which choice is best for you.

Check out this article for more information about rollovers:

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When it comes to your retirement savings, one of the most important decisions you can make is whether or not to roll over your 401(k). Rolling over your 401(k) can be a great way to maximize your retirement savings and take advantage of different investment options, but it’s not always the right decision for everyone. Here are some things to consider when deciding whether or not to roll over your 401(k).

First, consider the fees associated with rolling over your 401(k). Depending on the plan, you may have to pay fees to transfer the money to another retirement account. Additionally, you may be subject to taxes and early withdrawal penalties if you are under the age of 59 1/2. It’s important to weigh the cost of rolling over your 401(k) against the potential benefits.

Next, consider the investment options available in your current 401(k). Many 401(k) plans offer a limited selection of investments, so it may be beneficial to roll over your 401(k) to another account that offers a wider range of investment options. This can help you diversify your retirement portfolio and potentially increase your returns.

Finally, consider the long-term implications of rolling over your 401(k). If you roll over your 401(k) to an IRA, you may have more control over the investments in your portfolio. However, you may also be subject to higher fees and taxes. Additionally, if you roll over your 401(k) to an employer-sponsored plan, you may be subject to different vesting requirements. It’s important to understand the potential implications of rolling over your 401(k) before making a decision.

Rolling over your 401(k) can be a great way to maximize your retirement savings and take advantage of different investment options. However, it’s important to weigh the costs and long-term implications before making a decision. Consider the fees associated with rolling over your 401(k), the investment options available in your current plan, and the long-term implications of rolling over your 401(k) before making a decision.