Lifetime participation in your employer-sponsored plan is the best way to save enough money for a comfortable retirement, which is why savers who cash out their 401(k) accounts at the point of job change are making a very costly mistake.
Our firm's proprietary research has found that a hypothetical 30-year-old who cashes out a $5,000 401(k) balance today will forfeit as much as $52,000 in lost earnings that he/she would have received by age 65 (assuming the account would grow 7% per year).
Damian J. Sylvia
220 Monmouth Road
Oakhurst, NJ 07755
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