Hey Taylor: I just left my old company because it was forced to downsize. Fortunately, another opportunity came around at just the right time, but I’m wondering what to do with my 401(k). Do I leave it with my old employer or move it over to my new company’s plan? — Nena

Hey Nena: Happy to hear the job situation worked out. These are tough times for so many, and it’s nice to hear good news about people staying employed. 401(k)s are tricky, and your situation shines a light on some of the reasons why.

Taylor Kovar is CEO of Kovar Capital. Read more about him at GoFarWithKovar.com.

Information presented is for educational purposes only and is not an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/ or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

To submit a question to be answered in this column, please send it via email to Question@TaylorKovar. com, or via regular mail to Lessons on Wealth, 106 E. Lufkin Ave., Lufkin, TX 75901.