According to Fidelity Investments, the nation’s largest IRA and 401(k) provider survey in USA, disappointing 40 percent of 20- to 40-year-olds had cashed out their 401(k) retirement savings when leaving a job.
If your changing jobs then better option is to rollover the current 401(k) retirement savings into a new tax-deferred retirement account.
Roll it over yourself, and save more. If you changed jobs six times in your life, then you will have six different IRAs. Instead you can manage your own IRA.
To avoid paying the taxes you would incur by cashing out your 401K money, you want to rollover your 401K into an IRA by following the steps How To Rollover 401K Funds Into an IRA.