CNBC: “If you’re quitting your job as part of the ‘Great Resignation,’ here’s what you need to know about your 401(k)”
September 1, 2021, CNBC — In today’s article by Sarah O’Brien, she explains: “If you’re among the many workers hoping to find a better position elsewhere, be sure to pay attention to the 401(k) plan account you’re leaving behind.
“Roughly 55% of workers say they’re going to look for a new job in the next year, according to a recent Bankrate survey. Dubbed the “Great Resignation,” the hunt for greener pastures comes more than a year into the Covid pandemic and, for many people, working from home — leading some of them to seek greater flexibility and higher pay. While not all employees have a 401(k) or similar workplace retirement plan, those who do should know what happens to their account when they leave a job and what the options are — and aren’t.
“I know it can be stressful changing jobs, but just don’t forget about your 401(k),” said certified financial planner Marguerita Cheng, CEO of Blue Ocean Global Wealth in Gaithersburg, Maryland.