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What Should You Do With Your 401(k) When You Retire or Change Jobs?

Jeffrey Levine of Buckingham Wealth Partners, aka “The Buckinghammer” explains what workers can do with their 401(k) when retiring or switching jobs.

By Jeffrey Levine May 13, 2026

401(k) & Workplace Plans
Jeffrey Levine CPA/PFS, CFP®, ChFC® — Chief Planning Officer, Focus Wealth Partners
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Key Takeaways

  • Don't default to rolling over based only on investment choices; compare fees, creditor protection, loan availability, spousal rights, and RMD complexity across your options
  • Leaving money in your former employer's plan is a valid option if it offers lower fees or better creditor protection, despite the temptation to consolidate accounts
  • IRAs and employer plans have different rules: IRAs allow life insurance investments and no required withholding but prohibit loans, while plans allow loans and offer stronger spousal protections
  • If you have a large concentrated position in company stock, explore Net Unrealized Appreciation (NUA) treatment before rolling over, as a lump sum distribution may provide significant tax advantages
  • Ask your financial advisor to evaluate the rollover decision separately from investment selection—modern fiduciary standards require advisors to confirm the rollover itself (not just the investment) serves your best interest

What Should You Do With Your 401(k) When You Retire or Change Jobs? Retiring? Changing Jobs? What should you do with your 401(k)? Should you leave it in your previous employers 401(k) plan? Should you do a 401(k) Rollover? In this episode of Ask The Hammer, Jeffrey Levine of Buckingham Wealth Partners, aka “The Buckinghammer” explains what workers can do with their 401(k) when retiring or switching jobs. Watch this video to learn what should you do with your 401(k) when you retire or change jobs and find more Ask The Hammer episodes at this link: https://www.finstream.tv/videos/ask-the-hammer/

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