When you leave your employer, you also discontinue contributing to your 401(k) or receiving your employer’s match. You may be going on to another employer or possibly retiring. Either way, you may want to consider a fixed-indexed annuity when rolling over your 401(k) to avoid the following:
The U.S. unemployment rate is the percentage of unemployed workers in the total labor force and indicates the health of the U.S. economy. COVID-19 has significantly impacted unemployment to record numbers not previously seen since the government began tracking the data in 1939. COVID-19 has surpassed The Great Depression in the amount of unemployed and the economic fallout to businesses and workers.
When the U.S. economy is stagnant, the U.S. Government uses fiscal and monetary tools to stimulate the U.S. economy. However, with our economy facing multiple problems, that may not be an ‘easy fix’ in comparison to past recessions. COVID-19, social unrest, permanent business closings, and an upside-down GDP may prove to be difficult problems to overcome in the near term.