After retirement, you have several options for your 401(k) :

1. Keep your money in your 401(k): If your account balance is at least $5,000, you can generally leave your money in your 401(k) after retirement. This may be a good idea if you like the plans investment funds. Keep in mind that once you are no longer on the payroll, you will no longer be able to make new contributions to your 401(k) .

2. Transfer your 401(k) to an IRA: After you retire, you can transfer your 401(k) money to another qualified retirement plan, such as an IRA. IRAs maintain the same tax benefits of a 401(k) .

3. Withdraw a lump sum from your 401(k): You can withdraw all or a portion of your 401(k) balance as a lump sum after retirement. However, this should be avoided unless the immediate need for cash is critical and you have no other options. The consequences vary depending on your age and tax situation. If you withdraw from your 401(k) before age 59½, the money will generally be subject to both ordinary income taxes and a potential 10% early withdrawal penalty.

4. Convert your 401(k) into an annuity: You can convert your 401(k) into an annuity, which is a contract with an insurance company that provides a guaranteed stream of income for life or a set period of time. This can be a good option if you want a predictable income stream in retirement.

5. Take required minimum distributions (RMDs): At age 73, you are required to take RMDs from your 401(k) or other qualified retirement plans. The amount of the RMD is based on your life expectancy and the balance in your account.

When deciding what to do with your 401(k) after retirement, consider factors like your income needs, other sources of income, and existing investments. The best choice will be different for everyone, so it can help to plan for these choices in advance and talk to a financial advisor before making any decisions.