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| Transfer the money into an IRA |
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A 401k Rollover into an IRA (Individual Retirement Account) is the best option for many investors who have saved money in their previous employer's retirement plan. Unlike a 401(k) plan, with an IRA, investors can get increased control, greater organization, improved investment flexibility and investment advice. |
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Advantages with this option: |
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No taxes are due until you begin taking money out. |
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You may have access to more investment choices. |
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You may be able to combine your rollover with other retirement money.
For example, if you have worked at multiple jobs and have two or more 401k accounts, you can use a rollover to combine them all into a convenient
single retirement account (IRA). |
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