Reported 16 days ago
Over 31.9 million 401(k) accounts, averaging $66,691 each, have been abandoned by Americans who may not remember or understand the implications of their retirement savings after switching jobs. This oversight could lead to significant financial losses, with estimates suggesting that mismanaged accounts may cost individuals up to $500,000 in lost savings over their careers. As more workers participate in 401(k) plans and frequently change jobs, it's crucial for individuals to track their accounts and make informed decisions to avoid leaving behind their hard-earned money.
Source: YAHOO