Comments on: Planning Your Exit From Work: Financial Side

By: Anonymous

Anonymous — Tue, 22 Jan 2008 01:32:45 +0000

I never thought as a nine year white collar grunt that I’d need legal advice when switching jobs, but I racked up an hour of lawyer time to get advised on a non-disclose/non-compete contract with the employer I was planning to switch to. As far as lawyer bills go it was a pretty small one, but it was an expense I wasn’t comfortable avoiding.

By: HC

HC — Thu, 17 Jan 2008 14:42:37 +0000

When I started this last job, I was down to the nubs savings-wise, and then I realized that (since I was starting at the beginning of a pay period) I’d have to wait 4 weeks for my first paycheck.

Eeek.

I strongly, strongly support the “month or two” of money for transition.

But I’m glad it all worked out in the end.

By: Shana

Shana — Thu, 17 Jan 2008 05:29:02 +0000

Whether or not you rollover your old 401k to somewhere new isn’t always mandatory (as far as I know, it depends on how much you have in it). I left my [last job with a 401k] about 3.5 years ago, and I left my 401k in the same plan (it’s been getting great returns, so I don’t want to move it).

Though I’m curious why you say “never” leave an old 401k in a previous employer’s plan. I know if you have any significant chunk of employer stock in the plan, you should definitely diversify that, though.

By: SavingDiva

SavingDiva — Wed, 16 Jan 2008 15:02:32 +0000

I’m worried about leaving my current job in the next year for graduate school. My main concern is what to do with my 401k. Still looking into that…

By: SJean

SJean — Wed, 16 Jan 2008 14:24:50 +0000

How timely. I quit my job and my last day was yesterday. I think everything should go smoothly (direct deposit) but as you have demonstrated, it might not go as planned.

I too think I have a few shares of international stuff that has short term trading fees. Thanks for pointing that out!