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  "description": "“Think of it as Marie Kondo-ing your finances: Does this spark joy? If not, roll it over.”",
  "path": "/how-roll-over-workplace-retirement-account-ira/",
  "publishedAt": "2026-02-12T16:31:01.000Z",
  "site": "https://www.thepurse.co",
  "tags": [
    "_around 13 from the time they were 18 to 56_",
    "_one report estimates_",
    "_correct beneficiary attached_",
    "Subscribe now"
  ],
  "textContent": "Have a money question but don’t want to ask ChatGPT? Paid subscribers can submit queries to us, and we’ll track down answers from trusted financial professionals. Email questions@thepurse.co. No question is too basic!\n\nWe’re kicking things off today with a classic: How to rollover your old 401(k)—in part because I _need_ to rollover one of mine. Thanks to the reader for inspiring me!\n\nJasmine asks:\n\n> _My question is about how to roll over old retirement accounts. I see this mentioned often (including in some of your recent content, maybe dealing with layoffs?), but I really do not understand the process.\n>\n>  My husband has a few from previous jobs. He has been meaning to roll over these accounts but feels very daunted by it. I really do not want to take on this work but would like to give a helpful nudge. I am sure this is something we could Google, or ask ChatGPT for help?? Mixed feelings on that. But even the idea of Googling feels intimidating. This feels like basic adulting, but still we are having a hard time with it._\n\nFor all the advancements financial firms have made in recent years to streamline and automate processes, rolling over a workplace retirement account is still pretty clunky. But you shouldn’t let that scare you—the financial institutions that manage retirement accounts execute rollovers every day; they’ll be able to guide you through the process pretty seamlessly once you get the ball rolling.\n\nFirst, though, let’s discuss why advisors suggest rolling over old accounts. You’re likely going to hold many different jobs during your lifetime—the Bureau of Labor Statistics says Baby Boomers held _around 13 from the time they were 18 to 56_—and some of those will likely offer a 401(k), 403(b), or some other type of employer-sponsored retirement account.\n\nWhen you move onto your next next job, you have a few options: You can leave your retirement account at your old provider (usually you need to have a set minimum amount invested), roll it over into your IRA or your new employer’s 401(k), or withdraw the money completely, paying the requisite fees and taxes.\n\nRolling the account over makes sense for a few reasons. One, simply to keep tabs on your accounts. People lose or forget their old 401(k) plans all the time, especially those from their earliest jobs: To wit, _one report estimates_ that Americans have left behind $2.1 trillion in 401(k)s at previous employers, with an average account balance of around $66,000. If you roll it over, that’s one less thing to worry about. Having one account also makes it easier to ensure you have the _correct beneficiary attached_.\n\nTwo, and sort of related to the first point, prior employers could shut down or change retirement providers, and even if you remember you have an account there, it could become more difficult to access.\n\nSubscribe now\n\nThree, your investment options for your 401(k) are limited by each individual employer. So rolling it over into an IRA or your new 401(k) could yield better investment options and maybe even lower fees.\n\nFour, having one consolidated account ensures your investment options make sense, and you don’t have duplicate exposure or unintended concentration. And when it comes time to take disbursements in retirement, it’s much easier to do so from a single account than multiple.\n\n“Think of it as Marie Kondo-ing your finances: Does this spark joy? If not, roll it over,” says Mike Casey, a Virginia-based certified financial planner.\n\nSo, how do you actually go about it? Here’s what financial planners recommend.\n\n## **Understand your account**\n\nBefore you initiate anything, you’ll want to understand what’s in your account, says Brandon Angotti, a Connecticut-based CFP.\n\nFor example, if you received an employer match, was it fully vested, or will you lose part of it?\n\n### This post is for subscribers only\n\nBecome a member to get access to all content\n\nSubscribe now",
  "title": "How to roll over your workplace retirement account",
  "updatedAt": "2026-02-12T16:31:01.000Z"
}