Are you looking for a new job? Well, then you are probably familiar with job interviews, commitments, meetings, but in the end, it's worth it: you got the job of your dreams. Congratulations! However, giving up the routine you had at your former job position is not an easy thing at all.

Although it is possible to focus on your new job, the benefits and facilities offered here, you need to set an approach to get rid of the old routine without affecting the smooth running of your new job. Beyond the practice, there are financial practices that can affect our income, and you need to know from the beginning how to keep your money safe.

You could comply with your former employer's plan.

It seems counterintuitive. For example, your previous employer may retire from work, making it difficult to receive information and keep track of your financial plan. However, even simpler is usually better, so consolidating accounts can make it easier to manage your savings.

Transfer your assets to the new employer.

Suppose you opt for a more straightforward plan and have the resources in one place. First, confirm that the new employer's plan accepts transfers. Then, make sure you like the options (if you lost all of your mutual fund expense and asset allocation ratios, a financial advisor would be happy to check these issues before making a decision). The excellent news is that these direct transfers are unlimited.

Migrate your assets to an individual retirement account (IRA)

You can also use the direct transfer option to move your assets to an IRA (this means only a retirement account to which you control and contribute, versus one with deductions from an employer's salaries and contributions). But, again, the advantage here could be increased investment options.

There are some limitations, but in general, it's about accumulating an amount of any other tax-advantaged savings account before 59. What if you've already done this? Do not worry. There is another indirect transfer type, which gives you 60 days from the withdrawal of funds to invest in another retirement plan.

You can only do one of these per year (as opposed to unlimited direct transfers). The rules can become complex, but you need to take the time to choose the best solution for years to come intelligently. It is the best investment.

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