In 2014, my wife Nicole and I both started new careers. She moved from corporate recruiting into the role of Stay-at-Home Mom when our son Calvin was born. I moved to a new marketing agency to advance my career in account management.
After Nicole and I partnered together to pay off all of our debt, this single income life was something we were prepared for. It wasn’t an easy financial change, but it was completely worth it in our opinion.
With those new role changes we not only left old jobs behind, but we also left old 401k accounts behind as well. Since we both had been at our previous jobs for a while, the idea of rolling over our 401k accounts was new to us. We heard that we were definitely “supposed to” do the rollover immediately, but we didn’t really know why.
Following the “supposed to” advice, I decided to move forward with rolling over both of our 401k accounts into IRAs.