Deciding What To Do With The 401(k) s You Left Behind

Just because you can’t contribute to a former employer’s 401(k) doesn’t mean you have to take your money out of the plan ... If, however, you forget to monitor the account and you’re an “out of sight, out of mind” type person, then keeping your money with a former employer may not be the most suitable—and profitable—choice for you ... An easy way to execute a rollover is to open a new IRA account with a financial advisor or financial services company and have your 401(k) plan administrators transfer the funds directly to that new account.