10 min
Ep 205 - How to Reclaim Lost or Forgotten Retirement Funds Freedom Through Passive Income
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- Investing
There is lots of lost treasure out there. CNBC reports over 20% of 401(k) plan funds are lost or forgotten. So we're going to talk about how to reclaim those funds. At the end of 2021, there were nearly 25 million forgotten 401(k) accounts. That's 25 million accounts. That doesn't even talk about the money. The average forgotten 401(k) account balance, was over $55,400. Yes. So multiply that by 25 million. That's a lot of cheddar. What we're talking about here is if you're in a 401(k) plan, you can't self direct it. If you can't self direct your funds, you're stuck with whatever allocations investment vehicles the plan is allowing. Usually it's the stock market, mutual funds, things like that. Whereas if you're in a self directed account, then you can actually put it into real estate. One quick tip, consider converting it into a Roth self directed IRA, where you can build wealth tax free.
Download your Free Private Lending Report here:
https://www.freedomcapitalinvestments.com/lending
Download your Freedom # worksheet here:
https://www.freedomcapitalinvestments.com/worksheet
Click on the Social Media links below and listen in on our Private Group Conversations about how to achieve Financial Freedom through a consistent pipeline of passive income investments:
https://www.facebook.com/groups/freedomthroughpassiveincome
https://www.linkedin.com/groups/14048250
—————————————————————————
When you leave a job, where you had a 401(k) you have four options.
1) You can leave it with the old employer.
2) You can cash it out.
3) You can roll it over into an IRA - Sometimes you can roll it over while still employed.
4) You can merge it with your new company's 401(k) plan.
Next steps:
1) Contact your previous employers HR department.
2) Look at your old statements, which should have the account number, plus plan administrators contact info.
Use these searchable database to see if you can find the old 401(k) plans you may have forgotten about:
https://unclaimedretirementbenefits.com
https://unclaimed.org
https://freeerisa.benefitspro.com
https://www.askebsa.dol.gov/AbandonedPlanSearch
Join our groups on Facebook and LinkedIn.
https://www.facebook.com/groups/freedomthroughpassiveincome
https://www.linkedin.com/groups/14048250
www.FreedomCapitalInvestments.com
Invest Smart. Live Happy.
—————————————————————————
Connect with us here:
FB personal pages
https://www.facebook.com/Flipster
https://www.facebook.com/dani.lynn.robison
Linkedin personal pages
www.linkedin.com/in/fliprobison
www.linkedin.com/in/danilynnrobison
Instagram personal pages
https://www.instagram.com/fliprobison
https://www.instagram.com/danilynn23
TikTok personal pages
https://www.tiktok.com/@danilynnrobison
https://www.tiktok.com/@fliprobison
There is lots of lost treasure out there. CNBC reports over 20% of 401(k) plan funds are lost or forgotten. So we're going to talk about how to reclaim those funds. At the end of 2021, there were nearly 25 million forgotten 401(k) accounts. That's 25 million accounts. That doesn't even talk about the money. The average forgotten 401(k) account balance, was over $55,400. Yes. So multiply that by 25 million. That's a lot of cheddar. What we're talking about here is if you're in a 401(k) plan, you can't self direct it. If you can't self direct your funds, you're stuck with whatever allocations investment vehicles the plan is allowing. Usually it's the stock market, mutual funds, things like that. Whereas if you're in a self directed account, then you can actually put it into real estate. One quick tip, consider converting it into a Roth self directed IRA, where you can build wealth tax free.
Download your Free Private Lending Report here:
https://www.freedomcapitalinvestments.com/lending
Download your Freedom # worksheet here:
https://www.freedomcapitalinvestments.com/worksheet
Click on the Social Media links below and listen in on our Private Group Conversations about how to achieve Financial Freedom through a consistent pipeline of passive income investments:
https://www.facebook.com/groups/freedomthroughpassiveincome
https://www.linkedin.com/groups/14048250
—————————————————————————
When you leave a job, where you had a 401(k) you have four options.
1) You can leave it with the old employer.
2) You can cash it out.
3) You can roll it over into an IRA - Sometimes you can roll it over while still employed.
4) You can merge it with your new company's 401(k) plan.
Next steps:
1) Contact your previous employers HR department.
2) Look at your old statements, which should have the account number, plus plan administrators contact info.
Use these searchable database to see if you can find the old 401(k) plans you may have forgotten about:
https://unclaimedretirementbenefits.com
https://unclaimed.org
https://freeerisa.benefitspro.com
https://www.askebsa.dol.gov/AbandonedPlanSearch
Join our groups on Facebook and LinkedIn.
https://www.facebook.com/groups/freedomthroughpassiveincome
https://www.linkedin.com/groups/14048250
www.FreedomCapitalInvestments.com
Invest Smart. Live Happy.
—————————————————————————
Connect with us here:
FB personal pages
https://www.facebook.com/Flipster
https://www.facebook.com/dani.lynn.robison
Linkedin personal pages
www.linkedin.com/in/fliprobison
www.linkedin.com/in/danilynnrobison
Instagram personal pages
https://www.instagram.com/fliprobison
https://www.instagram.com/danilynn23
TikTok personal pages
https://www.tiktok.com/@danilynnrobison
https://www.tiktok.com/@fliprobison
10 min