Plus: How to successfully take a career break
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You Just Left Your Full-Time Job. What Should You Do With Your 401(k)?
Leaving a full-time job for a new gig presents a lot of opportunities. One must-do money to-do: Deciding how to handle the money you’ve saved in your old employer-sponsored retirement plan.
Are you leaping into a new full-time salaried job? Trying your hand at freelancing? Launching your own business? Your answer plays a role in what you do with the money in your former workplace retirement account.
We’ll walk you through the best moves to make with your old 401(k) in each scenario.
Plus:
HerMoney Podcast: How to Successfully Take a Career Break
The price women pay when we step away from the cubicle (to care for children, aging parents or take a break) is brutal. Our time out of the workforce reduces our earning power by an average of 18%, and that number goes up to 37% when our breaks last three years or longer.
But sometimes we have to take a step back (transition to part-time), or completely step out of the workforce for a while. If that’s in the cards for you — cue up this week’s HerMoney Podcast.*
Jean is joined by Stacey Delo and Jennifer Gefsky, co-authors of "Your Turn: Careers, Kids and Comebacks — A Working Mother’s Guide." They talk through all the important decisions and the math of daycare vs. salary, the impact on your retirement savings and what it means to your career trajectory.
And tips. (Of course there’s advice!) We cover ways to take a break that can lessen the blow to your career and how to confidently re-enter the workforce.
In mailbag a listener wonders if $3K is too much to pay a pro to manage her IRA, we cover the best investment options for Gen-Y, HSAs and how companies are helping employees save for retirement while paying down student loans.
If Your Credit Score Is Under 700, Make These 5 Moves ASAP
If your credit score never seems to budge over that 700 hump no matter what you do, don’t give up! Here’s how to make that scoring algorithm move in your favor. It’s all about making sure the good stuff is being reported and that everything else the scoring model measures is bathed in the most flattering light.
The best news? You can get this all done in less than a week.
8 Surprising Ways to Save On Your Next Trip
Exploring the world doesn’t have to cost you an arm and a leg. But when it’s time to click and commit — to book a flight, hotel or rental car where the price looks good — how do you know if you’re really getting the best deal?
Thankfully, travel pros are here to guide us on all the insider tips and tricks for making the most of your money when heading out on your next adventure.
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*This is a sponsored podcast, and it’s a part of a paid campaign with Fidelity Investments, which means we were compensated for this piece of educational content. Thanks!
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