You have four options when it comes to your retirement assets: leave them with your former employer, roll them over into your new employer’s retirement plan, roll them over into an IRA, or cash out. As with most financial decisions, there are pros and cons to each choice, and your specific circumstances may make one choice more appealing than the others.
Embarking on a brand-new career late in life can be more difficult than starting when you’re young. Sometimes it’s hard to teach an old dog new tricks, and the logistical barriers—not to mention age discrimination—make it easy to stick with the status quo. But if you’re truly unhappy with your career, or if you’d like to pursue a passion you’ve been neglecting thus far, now is the time to get started.