A Closer Look At 20 ways to Maximize your 401k in 2016

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7. When Switching Jobs, Avoid Cashing Out

When-Switching-Jobs,-Avoid-Cashing-Out
[sc-ad-insert] This is a major problem for many people opting to switch jobs. You should generally avoid cashing out since it can cause early withdrawal penalties or tax liability. Once you decide to withdraw money, the opportunity for growth basically reduces.

Cashing out will minimize any increment in your 401k. So when you decide to switch jobs, try as much as you can not to cash out.

PeeJay
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