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Old 22nd Feb 2020, 23:59
  #17 (permalink)  
Slasher1
 
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It’s not possible for a US national to lose a 401K over a parent company bankruptcy because this is the individuals’ money in what is usually a matched account. The money is fenced just like an individual bank account. The worst that can happen is that future or matching contributions by a company might be restructured with the individual free to continue to contribute his portion.

Now to be sure there are many other pension schemes which CAN and have been lost over bankruptcy. But none of these have been a 401K style account. And this is a major consideration when choosing a career — exactly where does the money go to and who holds it and how is it funded. If it’s you — like in a 401k style setup — this is probably more reliable than other options of guaranteed distributions.

I think the major part of any of this equation is are you happy in what you are doing. If you feel miserable going to work or the average gate agent is much happier than you — and this isn’t a temporary rut — it’s probably time for a change.

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