Moving money into your new employer's account can also be a simple option, and one that allows you to keep most or all of your retirement money in one account if you'll also be contributing to the 401(k) at your new job.

If your current account has few investment options, investment options with high fees, or high management costs, this may not be the best option either. Keeping your money with your current company is the simplest approach but you may not want to do that as you could end up with too many different 401(k)s open as you leave each job. The best choice depends on your situation. You can keep the money with your current company in most cases can move it to your new employer's 401(k) or can move the cash into a rollover IRA. You have a few choices with your workplace 401(k) if you were investing in one. If you are one of the millions who is considering switching careers, there are four tasks that you should be sure to check off your to-do list as you prepare to give notice and move onto your next step in your career path. Check out our pick for Best Cash Back Card of 2022Īcross the United States, many people are taking advantage of a tight labor market to quit their current jobs and look for a different opportunity.

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