What to Do With Your 401(k) if You Lose Your Job Due to COVID-19
Every week, millions of workers are laid off or furloughed. Approximately 4.4 million Americans filed for unemployment insurance in the week ending April 18, bringing the 5-week total to roughly 26 million people.
Nobody knows exactly how long the coronavirus pandemic will last, and many more workers could face a job loss in the coming weeks. If you've been laid off or are worried about being laid off in the future, the good news is that your retirement savings are safe. You won't lose your 401(k) if you lose your job, but it is wise to have a plan for what you want to do with this money.
You have a few options when it comes to your 401(k) after a job loss, and each one has its advantages and disadvantages.
Source Fool.com
