Leaving Your Retirement Savings Behind When You Change Jobs Will Cost You!
By Neal Ringquist
In his July 30th, 2015 MarketWatch article titled, Leaving Your 401K Behind When Changing Jobs Will Cost You, RCH’s CEO Spencer Williams gives sage advice to America’s mobile workforce, urging job-changing retirement savers to take the initiative and to consolidate their retirement savings.
Research proves that Spencer’s advice is spot-on: a recent study conducted by Boston Research Technologies finds that 33% of workers will leave balances in a prior plan at least once in their career. This costly move will penalize a hypothetical 30-year old $2,520 in fees by age 65. Cashing out is even worse: according to Fidelity, the same 30-year old who cashes out a $16,000 401(k) balance could lose over $145,000 in retirement income.
So, take the initiative and consolidate!
Click Here to Read the MarketWatch article titled, Leaving Your 401K Behind When Changing Jobs WIll Cost You.