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As more Americans quit their jobs, old employer-sponsored retirement accounts can get lost in the shuffle, particularly if they hold only small amounts of money.
It is not uncommon to lose track of an old 401(k) account after you change jobs. It's easy for people to assume their 401(k) contributions continue when they get a new job. Financial services ...
Although the idea of "forgotten money" may sound strange to some people, the truth is that there is a lot of misplaced 401(k) money floating around America. According to Capitalize, as of 2021 ...
The recovery of funds from the Madoff investment scandal has been underway since the scandal broke in December 2008. That month, recovery trustee Irving Picard received funds from the Bank of New York account where Bernard Madoff held new investments into his Ponzi scheme. As it has been concluded that no legitimate investments were made on the investors' behalf for at least the last 12 years ...
Earners are generally advised to shift from higher-risk, higher-return assets to lower-risk assets as they near retirement age. Money can also be lost if the plan sponsor has financial difficulties, though if a sponsor goes bankrupt, 401(k) account holders have high priority.
However, sometimes they aren't, and these tax-advantaged accounts are neglected by their owners. Before … Continue reading → The post Don't Let Your Old 401(k) Become an Orphan: Here's What to ...
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