Finance
With increasing layoffs, financial experts say don’t forget to manage your 401(k)
With increasing layoffs, financial experts say don’t forget to manage your 401(k)
From Target to Amazon, layoffs are making headlines this year.
RELATED: Layoffs are piling up, raising worker anxiety. Here are some companies that have cut jobs recently | Around 1,800 jobs expected to be cut from Target HQ on Tuesday
After losing a job, workers can forget to manage one of their biggest assets, their 401(k).
Financial planner Kyle Moore at Quarry Hill Advisors in St. Paul recommends moving an old 401(k) to a new one.
“A lot of people they go from job to job to job and they kind of leave a string of old 401(k)’s behind, which is important not to forget about them,” Moore said. “Consolidate them into their new 401(k)s. If you keep getting a new job, you should move the old 401(k)’s into the new ones.”
Moore recommends trying not to tap into your 401(k) after a job loss, because you could be hit with a penalty.
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Hong Kong’s finance chief has pledged to further integrate financial services with technology innovation to foster a thriving ecosystem, following a surge in investor interest in artificial intelligence-related stocks during the first trading day of the year.
Financial Secretary Paul Chan Mo-po on Sunday also emphasised Hong Kong’s role as an international capital market in fuelling the growth of frontier mainland Chinese tech firms with the city’s funding and liquidity.
“We welcome these enterprises to list and raise capital in Hong Kong and also encourage them to settle in the city to establish research and development (R&D) centres, transform their research outcomes, and set up advanced manufacturing facilities,” Chan said on his weekly blog.
“We support them in establishing regional or international headquarters in Hong Kong to reach international markets and strategically expand across Southeast Asia and the globe.”
The Hang Seng Index kicked off 2026 with a bang, surging over 700 points – a 2.8 per cent jump that marked its strongest opening since 2013.
Innovation and technology giants spearheaded the rally, with the Hang Seng Tech Index soaring 4 per cent as investor appetite for AI-related stocks reached a fever pitch.
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