How many 401(k)s do you have from previous jobs?

Millions of Americans have retirement accounts sitting in old employer plans.

Some people don’t even remember they exist.

Today there are more than 32 million forgotten 401(k) accounts in the United States holding nearly $2 trillion in retirement assets.

That’s a staggering amount of retirement savings sitting in old employer plans — often unmanaged and disconnected from a person’s broader financial strategy.

Another common issue occurs when employees leave a job.

Research shows about one out of every three workers cashes out their 401(k) instead of preserving it for retirement.

That decision can trigger income taxes, potential penalties, and the loss of years of future growth.

There are also important planning opportunities many people don’t realize exist.

For example, once someone reaches age 59½, some employer plans allow retirement funds to be moved into an IRA while still working — often without taxes or penalties.

At Pelleton Capital Management, we often describe financial planning as assembling a complete financial puzzle.

Every piece matters — investments, taxes, Social Security, long-term care planning, and retirement income strategies.

Your old 401(k) is one of those pieces.

If retirement dollars are sitting in former employer plans, they may not be working as efficiently as they could as part of your overall strategy.

If you’ve changed jobs over the years and suspect you may have retirement accounts sitting in old plans, we can help you locate them and determine how those dollars may fit into your entire financial puzzle.

Sometimes reconnecting just one forgotten retirement account can make a meaningful difference in the strength of a retirement plan.

Have you changed jobs several times over the years?

If so, it may be worth checking whether any retirement accounts were left behind.

If you’re curious whether you may have an old retirement account that deserves a second look, feel free to reach out. We’re always happy to help point you in the right direction.

Warm regards, Charles

Charles C. Scott, AIF®, CDP®Accredited Investment Fiduciary®Certified Dementia Practitioner®

Pelleton Capital Management480-513-1830

Sources: Capitalize & Center for Retirement Research (2025), Investopedia, Investment News