Frequently switching jobs can make it more difficult to save for retirement. If you don’t stay with the company for a specified number of years, you may not be able to take any or only a fraction of the 401(k) match with you when you leave. There may also be a waiting period before you can join a new company’s 401(k). Unless workers take the initiative to set up their own retirement accounts or other investments, they probably aren’t saving for retirement during that time.
Yesterday I spoke with ABC News Now about how job hopping can affect your retirement savings.
Also, check out 7 Reasons Job Hoppers Are Worse Off in Retirement.