When rolling over your 401(k) is the wrong move

You have a great financial adviser

Some 401(k) plans offer exclusive access to independent financial advisers.

A 401(k) financial adviser can help you select the best investments for your timeframe, goals and risk tolerance; determine what percentage of your paycheck you should defer into your plan to meet your retirement savings goals; and help prevent you from making emotional decisions like letting a lack of knowledge scare you away from dealing with your 401(k) at all or making poorly timed trades based on market sentiment.

Most investors underperform the market on their own; a financial adviser can help you keep pace with it.

Have you developed a relationship with someone you trust, whose advice has helped you and whose fees are low (1% or less of assets under management per year)? If so, you might want to keep your old 401(k) so that adviser can continue helping you manage your assets.

If you open a new 401(k) with your new employer, make sure to tell your old financial adviser so they can adjust your asset allocation if necessary.