Podcast Summary: Money Rehab with Nicole Lapin

Episode: How to Find a 401(k) From an Old Job— and Boost It!
Date: November 19, 2025
Host: Nicole Lapin (Money News Network)

Episode Overview

In this episode, Nicole Lapin tackles the often-overlooked topic of forgotten 401(k) accounts from previous jobs. With her trademark clarity and humor, Nicole offers a practical, step-by-step guide for tracking down lost retirement savings and maximizing their growth potential—whether through a traditional or Roth IRA rollover. She also shares actionable tax advice, pitfalls to avoid, and how to potentially score an extra 1% match on your rollover. The episode wraps with a real-world success story from a team member and an empowering call to action.

Key Discussion Points & Insights

1. The Problem: Forgotten 401(k)s

• Money Taboo & Neglect
  • Nicole points out how people often avoid talking about or handling money, especially lingering retirement accounts from old jobs.
  • Quote: “Those old 401ks are your money. And if you don't find them, manage them, or move them where they can grow smarter and and harder for you, you are leaving a cash on the table and I do not want that for you.” (10:21)

2. Step-by-Step: How to Find a Lost 401(k)

[10:36]

• If your former employer is still in business:
  • Contact their HR or payroll department.
  • Ask: Did you participate in the 401(k) plan? Who is the plan administrator? Get provider’s contact info.
  • Prepare your Social Security number and employment dates.
• If you have old documentation:
  • Look for emails or pay stubs naming the plan provider (often Fidelity, Vanguard, etc.).
• If your previous employer is out of business:
  • Search the National Registry of Unclaimed Retirement Benefits.
  • Check Department of Labor’s list of abandoned plans.
• If you had less than $5,000 in the plan:
  • The plan may have been auto-cashed out or transferred to an IRA. Watch for unexpected checks or statements.

3. What to Do Once You Find It: Rollover Options

Nicole explains the two smartest options for maximizing your old 401(k):

A. Rolling Over to a Traditional IRA

[12:16]

• Benefits: Keeps money tax-deferred; avoids immediate taxes and penalties.
• Steps:
  1. Open a traditional IRA (takes ~10 minutes; often no minimum deposit).
     • Pro tip: Public offers a 1% match for 401k rollovers.
  2. Contact your old 401(k) provider to initiate a direct rollover (“magic phrase”).
     • Quote: “Direct rollover is the magic phrase here.” (12:54)
  3. Provide your IRA account info to the 401(k) provider.
  4. Monitor the transfer, which can take 5-20 business days.
  5. Invest your funds! They won’t automatically be invested after transfer.

B. Converting to a Roth IRA

[13:28]

• Benefits: Money grows and is withdrawn tax-free in retirement.
• Catch: Taxes are due now since 401(k) money was pre-tax.
• Example:
  • $20,000 roll-over means $20k added to taxable income; may bump up your tax bracket.
• Key questions to ask yourself:
  1. Can I afford the tax this year?
  2. Am I in a low tax bracket now?
  3. Will I be in a higher bracket later?
  • If "yes" to all, Roth might be for you.
• Steps:
  1. Open a Roth IRA.
     • Pro tip: Public offers a 1% uncapped match for Roth rollovers too.
  2. Request a direct Roth conversion rollover from your 401(k) provider.
  3. Consult a tax pro (essential before converting).
  4. Pay the taxes from another account, not the rollover funds, to maximize growth.

4. What Not to Do

[15:18]

• Do not take the money yourself.
  • If you do, must re-deposit within 60 days or pay taxes/penalties.
• Do not do multiple rollovers in a year.
  • Only one IRA-to-IRA per year is allowed, but 401(k) direct rollovers are exempt from this limit.

5. Real-Life Success Story

[16:13]

• Producer Morgan shares her experience:
  • Left her first job with a 401(k) at Fidelity.
  • Successfully rolled over $65,000 into a traditional IRA after five years—found it easier than expected.
  • Reflects she missed out on a 1% match at the time.
  • Quote: “Getting an extra $650 in one day would have been pretty awesome.” (17:05)

6. Final Thoughts & Motivation

[17:17]

• Rolling over your old 401(k) is a "power move" and a step toward financial freedom.
• Quote: “Every dollar you reclaim and reinvest is a dollar closer to freedom. You've got this. Now go get that money.” (17:26)

Notable Quotes & Memorable Moments

• "Do you know where your 401k is? Specifically your old 401k from a job you left. If you're a 90s kid or an 80s kid, you will get that joke and you will think I'm absolutely hilarious." – Nicole Lapin [10:00]
• "Direct rollover is the magic phrase here." – Nicole Lapin [12:54]
• "Brace for the tax bill. Before you do anything, talk to a CPA or a tax pro." – Nicole Lapin [14:17]
• "Getting an extra $650 in one day would have been pretty awesome." – Producer Morgan [17:05]
• "Every dollar you reclaim and reinvest is a dollar closer to freedom." – Nicole Lapin [17:26]

Key Timestamps

• 10:00 – Nicole introduces the topic and the importance of finding old 401(k)s.
• 10:36–12:16 – Step-by-step guide to finding a forgotten 401(k).
• 12:16–13:28 – How to roll over to a traditional IRA.
• 13:28–15:36 – How to convert to a Roth IRA and associated tax considerations.
• 15:18 – Pitfalls to avoid with rollovers.
• 16:13 – Producer Morgan’s real-life rollover story.
• 17:17 – Nicole’s motivating wrap-up and direct call to action.

Action Steps Recap

1. Track down your old 401(k): Contact old employers, search unclaimed registries.
2. Choose your rollover strategy: Traditional IRA (tax-deferred) vs. Roth IRA (tax now, grow tax-free).
3. Initiate a direct rollover—never take possession of the money yourself.
4. Invest the funds after rollover.
5. Look for extra perks: Some brokers (like Public) offer a 1% match on rollovers.

Tone & Language

Nicole Lapin’s style is direct, witty, and highly accessible, making complex financial moves approachable for everyone.

Useful for Listeners Who:

• Have changed jobs and left behind a 401(k)
• Want to maximize retirement savings and avoid missing out on compounding growth
• Need simple, actionable steps to reclaim and grow forgotten funds
• Are considering IRA types and rollover strategies

Share this episode with your friends who’ve had multiple jobs—because forgotten money is wasted money!