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Americans are leaving old 401(k) accounts behind — and paying the price

·5 min read
Americans are leaving old 401(k) accounts behind — and paying the price

Remember that 401(k) from your first job? While some of that is an unfortunate reality of income inequality and our modern labor market, much of it comes down to the friction that’s embedded in our retirement savings system — in particular, the fact that our retirement accounts like 401(k)s are tied to our employers. Leaving old 401(k) accounts behind is more common than you might think.