Studies have found that one in three 401(k) investors has cashed out of his or her plan before reaching age 59½, often when changing jobs.1
It’s a tempting move to make, but even if your account balance seems too small to represent significant retirement savings, the power of compounding over time can be your best friend.
That’s why the many benefits of your UC Retirement Savings Program include the ability to roll in your other retirement accounts.
It’s an especially attractive option if you are new to UC, because you may have a previous employer’s account that you need to make a decision about.
Besides the obvious perks like simplicity, convenience, and continued tax advantages, you get these benefits, too:
Before you make a decision, you may want to take these steps:
Employer-sponsored plans like those offered by UC are among the easiest, most recommended ways to plan and invest for your retirement.
When you take full advantage of your UC Retirement Savings Program, you’re building a foundation for your future. And that may just be the best move of all.
Keep in mind that investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money.
1 “Beware of cashing out your 401(k)," Fidelity Viewpoints, May 31, 2016.
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