Pensions used to be the way companies gave retirement benefits to their employees. But now the 401(k) is the new standard. With a 401(k), your employer has been matching every dollar you invest up to a certain threshold. Those are dollars you never really see and it can be easy to forget how beneficial they’ll become. When it comes to 401(k)s, you’ve never really had control of how that money has been invested. But when you reach age 59 and ½, you are now allowed to take control of those accounts. You have a few different options of how to deal with these monies, but all of them have their benefits and consequences. So it would be advisable to find a financial advisor to guide you through those options and make the best decision for you.