This videos covers the 4 options you have with your 401(k) after leaving your job and the pros/cons of each. You can rollover your 401(k) to your new employer's plan, you can keep it where it is, you can rollover your 401(k) to a Roth IRA or Traditional IRA, or you can cash out your 401(k) (although this is not recommended). Your contributions are always yours to keep, but you might not keep your employer's contributions if they have not vested. When initiating a 401(k) rollover, it's important to pay attention to the account types (Roth or Traditional). If you rollover a Traditional 401(k) to a Roth IRA, this is considered a taxable event and you will have to pay taxes as a result of the conversion.

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TIMESTAMPS

0:00 Things to know first
2:38 1) Keep your 401(k) where it is
3:49 2) Rollover into your new employer's plan
6:26 3) Rollover into IRA
10:40 4) Cash out your 401(k)
12:02 Summary

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Disclaimer: I am not a professional financial advisor nor a tax professional. The content presented in this video is for entertainment and educational purposes only.