Marketplace All-in-One Wait...where did my retirement money go?
Apr 2, 2026
Katy Milkman, behavioral scientist and Wharton professor who studies procrastination and commitment tricks. Geoffrey Sanzenbacher, retirement researcher at Boston College focused on 401(k) rollovers. They dig into why people lose track of old retirement accounts. They explain the options for leftover 401(k) money. They share simple brain hacks and accountability tactics to finally tackle this dreaded financial chore.
AI Snips
Chapters
Transcript
Episode notes
Host's Hesitation Then First Call With TIAA
- Rima Khrais recounts her avoidance: she couldn't find old account emails and dreaded calling providers, putting the task off despite suspicion of money owed.
- She finally called TIAA, faced robo prompts, spoke to Brendan, and learned they had no record for her social security.
Employer System Creates Fragmented Retirement Accounts
- Employer-based 401(k) structure fragments retirement savings across many providers, making transfers hard and common to neglect.
- Geoffrey Sanzenbacher notes only ~15% of people roll balances to a new employer and many end up with 3+ accounts from job changes.
Four Practical Options For Left Behind 401(k)s
- Keep your options: leave balances in old plans, roll into a new employer's plan, roll into an IRA, or avoid cashing out.
- Sanzenbacher recommends rolling into the new employer's plan first, IRAs second, and warns cashing out erases compound growth.