What happens to your 401(k) plan after you leave a job? This account could result in a loss of money if left unattended. In the case that you’ve left multiple jobs, you’ll probably have various 401(1) accounts open just bleeding money. That’s why Capitalize exists!
The platform easily locates your misplaced and unused 401(k) accounts, opens individual retirement accounts (IRAs) and consolidates retirement plans for you. As a bonus, all these services are completely free. Keep reading for everything you need to know about Capitalize.
Capitalize is a 401(k) rollover service that assists you with transferring funds from an existing 401(k) into a new IRA. The service is designed for those with legacy 401(k)s from past employers. Typically, these accounts sit idle for years, accruing fees and losing capital. Capitalize will work to move your money into an account that you can access freely, like an IRA, in order to avoid the loss of capital.
Don’t already hold an IRA? It’s OK, Capitalize will suggest an account with one of its partners, such as Betterment, SoFi or TD Ameritrade. If you already have an IRA, simply link your account and Capitalize will do the rest.
It’s completely free when you roll over your 401k. It should be noted that your new IRA provider might charge fees during the rollover process. These fees come from the provider, not Capitalize.
Capitalize is able to gain profit when you decide to open an account with one of their partners. As a result, the partner will pay Capitalize with a referral fee.
Capitalize offers services that is free and easy to use. Not only are their services free, the company will locate your old 401(k), choose an IRA provider (if you don’t already have one) and transfer your funds for you. It really can’t be more simple than that!
If you’re interested on more investment opportunities, you can check out HustlerMoneyBlog’s best brokerage bonuses & investment promotions for this month as well as our archive on other investment promotions! Alternatives to FarmTogether include CrowdStreet, Fundrise and Origin Investments.