Whenever you leave a job, it's a good idea to take the money in your former employer's 401(k) and move it into a new retirement plan. While you may get the option to leave your money where it is, that doesn't make a lot of sense.

After all, why would you leave your hard-earned retirement savings in a plan sponsored by a company you're no longer affiliated with? Plus, if you leave your money in an old 401(k), you run the risk of forgetting about it.

Now it may be that you're considering moving your old 401(k) into the 401(k) plan your new employer offers. That's not a terrible idea per se. But here are a few reasons you may want to consider an IRA instead.

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Source Fool.com