As you know, the past few years have had unprecedented unemployment rates. We all know someone who lost a job during or after COVID started. If you were one of those unlucky people, I hope that things have turned around for you and maybe even something good came of it all.

Rolling over a 401k is on the bottom of the list of things to do during tough times. Some of our clients have said it seems overwhelming and like way too much paperwork. They imagine sitting on hold for a really long time wishing they could be doing anything else, even laundry. But before all that unpleasantness, they wonder if it is even the right thing to do. Should they roll it over at all?


Option 1- Leave it at your old employer. This is ok but you may want to check that they aren’t charging high fees. Also, your account is restricted to the limited number of investment options (~40 or so) that are offered. This could hinder the growth of your portfolio in the long term.

Option 2- Roll the account over to an IRA under a Registered Investment Advisor that works directly for you. An IRA will give you thousands of investment options (as opposed to ~40) to take full advantage of the markets. An experienced Advisor working for you can also provide you with a personal retirement analysis.


For me, moving my money to someone that is working for ME and my best interest is important to me. If you make the decision to open an IRA, think of the final few steps as having an EASY BUTTON! Here is the step by step for a simple and quick transfer.

  1. Speak to a Registered Investment Advisor about your goals for the account and sign account opening documents
  2. Contact your current 401k administrator
  3. Sit back and relax

The writer of this blog is not a registered investment advisor or broker/dealer and does not make security recommendations nor provide financial advice. Readers are advised that the material contained herein should be used solely for informational purposes, and to consult their personal tax and/or financial advisors as to its applicability to their circumstances. Investing involves risk, including the loss of principal.