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Ask Sallie: What Do I Do With My Old 401(k)s? (Video)

By Sallie Krawcheck

Sallie’s answer:

The question is, “I have lots of IRAs and old 401ks at different places. What should I do with them?”

Lots? Lots? I guess you've had lots of jobs. Um, okay.

So the answer is don't just leave them there. You're going to forget about them. You're not going to be watching them. The asset allocation will be off. It's going to potentially hurt you.

Ideally, you wanna consolidate them in one place. Yes, we can do that at Ellevest for you so that you can bring them together, and you can keep an eye on them.

You can monitor them, and for the right ones, you can still be investing with them. Leaving them behind typically is not a great idea.


Disclosures

© 2018 Ellevest, Inc. All Rights Reserved.

The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice.

The information provided does not take into account the specific objectives, financial situation or particular needs of any specific person.

Investing entails risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time.

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Sallie Krawcheck

Sallie Krawcheck is the Co-Founder & CEO of Ellevest. Her life’s mission is to help women to reach their financial and professional goals.