Wells Fargo and AARP have released a strong message about what to do with money left in a 401(k) plan from a previous employer when it comes to retirement. Wells Fargo has outlined four distribution options for people with existing 401 (k) plans from former employers, including those from their former employers. The company suggests shifting savings into an Individual Retirement Account (IRA), preserving the tax benefits and allowing for a wider range of investments, and preserving assets from creditors and bankruptcy. However, it also recommends caution in caution regarding the financial impact of such a move, as it can trigger income taxes and a 10% IRS penalty. AARP also suggests some considerations to consider when leaving a job.