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Finding lost and forgotten 401(k) accounts is important in order to maximize your retirement savings. Every little bit helps, so you don’t want to let hundreds or thousands of dollars go unclaimed.
Research from Capitalize found that by May 2023, 29.2 million 401(k) accounts had been forgotten. These accounts hold a whopping $1.65 trillion in assets — about 25% of all 401(k) assets in the U.S.
That can bring down your retirement account significantly. Looking at your 401(k) regularly will allow you to notice if you need to make tweaks to stay on track. ... How to Locate All of Your 401 ...
Image source: Getty Images. Letting your account run on autopilot could be a bad move. Your 401(k) lets you choose between a variety of funds your employer has pre-selected. You're free to change ...
Remember that guidelines are not set in stone — rather, they're good rules to follow. For instance, if you’re 30 years old and earn $75,000, you should try to have that much saved in your 401(k).
Rolling over a 401(k) with high-fee investments into an individual retirement account with lower-cost investment options or to your current employer’s 401(k) plan could save you big.
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