Hi, this is Mike Sheehan from FinancialProf.org.
Did you have a 401k at your first job? Did you kind of forget about it? Have you changed jobs several times and maybe had a 401k at each of those jobs, and kind of forgot about it? Well, you know, that is not a good idea. What you can do with that is you can roll it over.
Now, with your previous employers, that money's sitting there and they're basically kind of controlling it unless you put it into a cash account. But you don't have the I guess, again, the control that you would want by being able to roll it over and you can roll it over in any type of account you want.
I'm not going to get into it. You can ask me more about it, but we like to use FIAs not to get off on a tangent, but FIAs are a tool that will guarantee that your money will never, never lose a penny. So we can save that for the discussion down the road, but you want to get out your paperwork.
And whether you call us, give us a call, or maybe you have somebody that can help you out. You want to sit down and talk to them about that because that's, what's kind of called an orphan account and it's just sitting there, no one's managing it. It's just again, sitting there, you don't know what funds are it in.
You may get a statement, but you don't understand the statement. I've counted, I've had countless people who have taken their their orphan 401ks, and some of them had two and three, and we were able to combine them into one. So again, don't let that money sit. That's money that's yours. So make sure you pull out any documentation you have of any 401k from previous employers, and we'd be happy to have that conversation with you at FinancialProf.org. If you like this, make sure to click the like button, subscribe share turn on the notifications. And then as we share more content about this, you'll be the first to know.
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