Know what you could gain—or give up—before you roll the money over.

Leaving a job doesn’t automatically mean your retirement account needs to leave with you. You may be able to leave the money in your old plan or roll it into an IRA. Or you could move it to a new employer plan, or use some of it for income.

The important question isn’t simply where the money should go. It’s: “What will I gain—and what could I give up—if I move it?”

A rollover can change how easily you can reach the money, what you pay in fees, which investments you can use, and which withdrawal rules apply.

Know what may be worth keeping

Your old employer plan may have features you would lose by moving the money. It may offer low-cost investments, strong legal protections, or withdrawal rules that are especially useful before age 59½.

For example, someone who leaves a job at 57 may be able to take money from that employer’s 401(k) without the extra 10% federal tax if the Rule of 55 applies. Rolling the full account into an IRA can take away that particular option.

A move that looks like simple account cleanup can make money you planned to use more expensive to reach.

Know what you could gain by moving it

Leaving the money where it is isn’t always the best choice either. An IRA may give you more investment choices, easier withdrawals, or make it simpler to manage several old retirement accounts in one place. It can also make it easier to build one investment and withdrawal plan around your whole household.

A new employer plan may be another option if it accepts rollovers and offers better costs or features.

So the goal isn’t to keep the old plan at all costs. The goal is to compare what you have now with what you would gain by moving it.

Decide what job this money needs to do next

The best place for the account depends partly on what you need from it. Will some of the money help pay the bills in the next few years?

Does it need to stay invested for much later? Do you need easier withdrawals, lower costs, more investment choices, or help managing everything together?

Those answers can change whether staying put, moving the money, or moving only part of it makes the most sense.

Move it only after you know why

A rollover can be a good move when the new account gives you something more useful than what you’re giving up. But the decision should come before the transfer.

The guides here help you decide whether your old retirement account should stay where it is, move somewhere else, or help fund the years ahead. That way, you don’t give up an option you still need just to gain one you don’t.