Tag Page Retirement101

What Happens to Your 401k When You Die?

Ever wondered what happens to your 401k if you suddenly pass away? Turns out, it’s not as simple as just handing over the cash. Your family will need to jump through a few hoops—think: tracking down HR, gathering paperwork, and waiting for the 401k company to confirm who gets what. If you’re a beneficiary, you might have to move the money into an inherited IRA and deal with a 10-year withdrawal rule. Pro tip: keep your paperwork organized and let your loved ones know where to find it! #MoneyLifehacks #Retirement101 #EstatePlanning #Finance