Geoffrey Sanzenbacher

It happens a lot.

And the reason it happens a lot is because it is really, really hard to take your money from one account to another.

That makes me feel better.

It's really hard for a lot of reasons.

But I think the big one is the company that has your money now doesn't really have any incentive to get rid of it a lot of the time.

And there's no requirement that your new company takes it.

There was a study like a decade ago

that, you know, a third of people have three or more retirement accounts.

And this was a decade ago when 401ks weren't even like fully developed.

So now it's almost certainly more than that.

Probably many, many people have, you know, three, four, five 401ks.

No, you shouldn't feel ashamed.

I mean, if you look at like the data, there are only about 15% of people roll over their balances to a new employer's plan.

So 15%.

You have one five because... That seems absurdly low.

Yeah, it's really low because it's next to impossible.

I'm a retirement researcher.

My wife had a self-employment 401k.

She got an academic job.

I wanted to transfer it over to her academic place.