Why leaving money in a 401(k) isn’t a smart move.

Retirement plans, like 401(k)s and pension/profit-sharing plans, are great for building a nest egg. They give you numerous benefits, including the ability to deduct contributions from your taxable income and enjoy tax-deferred growth of earnings inside the plan. However, eventually you will have to convert your retirement plan into an ongoing income stream so you can have the money to do what you want, when you want.

When that day comes, you’re going to find that the investment choices inside your existing 401(k) are generally not the best options for … Read the rest