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Men in their 40s, what’s one piece of advice for men in their 20s? (lemmy.world)

submitted 4 months ago by TheArstaInventor@lemmy.world to c/asklemmy@lemmy.ml

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[–] TheImpressiveX@lemmy.ml 7 points 4 months ago (2 children)

Question: If I had money saved in a 401k or Roth IRA, what if I died before I retired? What would happen to the money? Would it go back to the government or to a close relative?

[–] kersploosh@sh.itjust.works 18 points 4 months ago

You can (and should) assign a beneficiary for the account. They receive the money if you die.

[–] AmbiguousProps@lemmy.today 4 points 4 months ago

You declare your beneficiaries when signing up - it goes to them, I believe.