If I had put money aside in 41k at a previous job. I left that job what happens to that money I put away?

Answer 1

Your previous employer will tell you what the options are.

Often the employer is ok with keeping the money in the account. Sometimes they may require you to move the money-then u can roll it over to your new employer's 401K. Ask your new employer how to go about doing this.

You can always open an independed 401K with any broker like Ameritrade, Fidelity and then do it all yourself.

Monica
Check out http://www.tradinresources.org

Answer 2

You can arrange to have funds in one 401k account transferred to a new account without penalty. Your new 401k manager can make it happen.

If you want to cash it out you'll be subjected to a hefty tax penalty since that was a pre-tax deduction on your payroll.

Answer 3

you need to roll it over to an ira at a bank. you should have a certain number of days to do this, like a window. after that i am not sure what happens to the money.

Answer 4

Company exec's spend it on strippers and laugh away your 401k