Welcome To Financial Elite!

Follow our 200K journey to get out of debt! We share our best money tips to get out of debt and build wealth.

Saturday, July 18, 2009

If My Company Goes Bankrupt Will I Lose All the Money in My 401K?


You should have nothing to worry about if you can confirm your money was sent from your employer to your 401K plan. Any money you invest in a 401K is your money, not your employer's. Generally employers hire a third party like Fidelity or a brokerage, fund company, or insurance company to run the 401K, and that company will separate your money into another account that is all yours; even if that brokerage company gets into trouble.

No comments:

LinkWithin

Related Posts Plugin for WordPress, Blogger...