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Outside the Box: What should I do with multiple 401(k) accounts?

Q.: Hi Dan, I have multiple 401(k) accounts from various jobs over my career. My current company has a 401(k) plan. I participate in the plan and there is a company match. Should I roll all my other 401(k) plans into my current plan, leave them where they’re at, or move them to an IRA or other investment? I don’t have a lot of time to manage my investments.

Thanks, Phil

A.: Phil, To avoid taxation, the money needs to stay in a 401(k) or an IRA, and any rollover needs to be done properly. So, I would say “No” to any nonretirement accounts.

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