Managing Your 401K: Advice from Cory Sickles

The video features retirement expert Cory Sickles, who discusses the importance of actively managing your 401k. He notes that it's common for Americans to lose track of their various 401k accounts as they change jobs, causing money to often be inadvertently left behind. Sickles emphasizes the importance of rolling over 401k to an Individual Retirement Account (IRA) or a Roth IRA after switching jobs to maintain control over investments. He acknowledges that the process can be confusing, hence the necessity of seeking advice from a financial advisor or a CPA. For those without a 401k, he suggests contributing to a traditional IRA or a Roth IRA. He concludes by offering viewers a chance to get in touch with his team for personalized advice.

00:00 Introduction to Job Changes and Retirement Plans
00:24 The Importance of Keeping Track of Your 401k
01:08 The Risks of Leaving Your 401k Behind
01:45 Switching Your 401k to a Roth Account
02:27 The Process of Rolling Over Your 401k
03:02 The Consequences of Cashing Out Your 401k
03:48 Retirement Plan Options for Self-Employed or Those Without a 401k
04:30 Getting Professional Help with Your Retirement Plan
04:57 Contact Information and Final Thoughts

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