E7: I have old 401(k)s from previous jobs—should I move them to my new employer’s plan?

Many people have a trail of old 401(k)s left behind at former employers, often forgotten and unmanaged. In this episode, Rebecca from Racine asks if she should consolidate these into her current employer’s plan. Mark and Laura explore the pros and cons of this common dilemma, starting with the primary benefit of the 401(k): the loan provision.

While moving funds to a new employer plan is often better than leaving them scattered, we discuss why rolling them into an IRA with an independent advisor could be a more strategic move for long-term growth. This approach opens up a “toolbox” of assets—like alternative real estate, oil and gas, and annuities—that a standard employer plan simply cannot provide.

The biggest risk of “straggling” funds is that they become “out of sight, out of mind,” leading to missed opportunities or unhedged exposure during market dips. Watch this episode to learn how to take control of your scattered assets and ensure your hard-earned money is actually working toward your specific retirement destination.