I am 21 years old and I am a student, last 3 years ago my father had pass away and left 401k from his Company as beneficiary. I don't know what to do so I still leave it at his Company. What I have to do and I want to do in the smart way, this is only money we have.
Thanks,
Sue

Sue -sorry to hear about your loss. What information has your father's company given you about this acount and your options with respect to leaving it alone, rolling it to an IRA account, or taking withdrawals? Upon the death of an employee most companies distribute 401(k)accounts to the heirs - typically ithin 5 years - unless it is left to the spouse, in which case they allow the spouse to roll the account to an IRA. Are they saying you must withdraw the funds? Be aware that if you take a withdrawal you will have to pay income tax on it. If you don't need the cash, I would suggest rolling the 401(k) account to your own rollover IRA account, if the company allows it. Again, check with the company to see what your options are.