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What happens to your 401(k) plan after you leave a job? Left to its own devices, the account can lead to lost money over the years. If you left multiple jobs, that means you probably have multiple 401(k) accounts bleeding money. This is where Capitalize comes into play.
The platform easily locates misplaced 401(k) accounts, opens individual retirement accounts (IRAs) and consolidates retirement plans for you. And they do it all for free. Keep reading for everything you need to know about Capitalize.
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Capitalize Features
Capitalize is a 401(k) rollover service that helps you transfer funds from an existing 401(k) into a new IRA. It’s designed for those with legacy 401(k)s from past employers. For most, these accounts sit idle for years, accruing fees and losing capital. To avoid this, Capitalize will move your money into an account that you can access freely, like an IRA.
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.
Capitalize Fees
Rolling over your 401(k) with Capitalize is entirely free. That said, your new IRA provider might charge fees during the rollover process. These come from the provider, not Capitalize.
Capitalize earns money when you open an account with one of its partners. That partner pays Capitalize a referral fee.
Bottom Line
Capitalize’s 401(k) rollover service is free and easy to use. They’ll locate your old 401(k), choose an IRA provider (if you don’t already have one) and transfer your funds for free. It doesn’t get much simpler than that.
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