4 Things You Can Do with That Old 401K

In this episode, financial advisors Jim Martin and Casey Bibb discuss the various options available for handling an old 401(k) from a previous job. They explore the pros and cons of leaving it with the old employer, rolling it into a new employer's plan, cashing it out, and moving it into a traditional IRA. The episode also touches on the implications of taxes, investment fees, and risk management associated with these choices. Additionally, they delve into social security survivor benefits and offer insights into planning for a spouse's death to ensure financial stability. 

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00:00 Introduction: What to Do with an Old 401k 00:25 Meet the Hosts: Jim Martin and Casey Bibb 01:16 Exploring Your 401k Options 01:49 Option 1: Leaving Your 401k as Is 03:44 Option 2: Rolling Over to a New Employer Plan 05:14 Option 3: Cashing Out Your 401k 06:29 Option 4: Rolling Over to a Traditional IRA 08:31 Recap of 401k Options 12:43 Special Considerations for 403Bs and 457s 14:22 Social Security and Survivor Benefits 22:06 Closing Thoughts and Outro Opinions expressed herein are solely those of Martin Wealth Solutions, unless otherwise specifically cited. Material presented is believed to be from reliable sources, but no representations are made by our firm as to another parties’ informational accuracy or completeness. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that any statements, opinions or forecasts provided herein will prove to be correct. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.