I have a question about retirement?

Question

I've worked many jobs during my life. I have retirement investments through all these jobs, 401K, etcetera. How does that work once I retire, since it is all through different jobs? Do they track me by my Social Security number? Do I need to contact all of my former jobs once I retire?

Thanx.

Answer 1

hello - i suggest you consolidate all of those accounts.  you are probably paying fees on them since you are no longer an active employee.  sounds like you could benefit from a fee only financial adviser.  they will be able ot help you get organized an make all of this easier for you in the future.  better to track it all down now.  good luck.

Answer 2

You should have rolled any of these 401K's into an IRA, in this way the funds would all be in one place. Since you did not, you must contact each on eand explain your plans.