I Lost My 401(k)!
Crazy fact, did you know about 20% of 401k plans are lost or forgotten?
Money left on the table is never a good thing considering how easy it is to get it back. Another crazy fact is that if you do find your old plan there’s a good chance it has great returns. Common knowledge in the industry says that if you remove the human element(emotions) and let the investments do their magic you will experience better uninterrupted returns. This is assuming the funds were invested in the first place.
Below I have listed some ways you can reclaim the assets to bolster your retirement funds.
Call your old employer and ask if they have any record of your old plan. If it is under $1,000 they can cash it out and send you a check without your authorization. If it is between $1,000 and $5,000 they can roll it to an IRA without your authorization. Either way they should have tried to contact you to let you know.
Visit some of these sites so you can identify where the plan is or if you have a lost plan.
Fiduciary Mission
At Integritas Financial, we are committed to providing fee-only, fiduciary financial planning services that are tailored to the unique needs of young professionals, particularly millennials. Our experienced planners work with you to develop customized financial plans that address key areas such as estate planning, trusts and wills, retirement, workplace benefits, education funding, student debt, and buying a house.
We believe in transparent, client-focused service that puts your financial goals at the center of everything we do. As a fiduciary firm, we are dedicated to acting in your best interests, and we never sell products that charge commissions to clients.
Our goal is to help you achieve a stable and prosperous financial future by providing comprehensive financial planning services that are tailored to your individual needs. Whether you're just starting out in your career or you're already well-established, we can help you navigate the complexities of financial planning and create a roadmap for success.
Ryan@if-money.com