Switching Jobs, What About 401-K?
Andy's changing jobs and should roll his 401k over into a Roth IRA.
QUESTION: Andy is changing jobs and asks Dave what he should do with his 401-K.
ANSWER: Don’t be concerned about growing your money quickly. You should roll your 401-K into an IRA. Don’t ever leave it at your old employer and don’t put it in your new employer’s 401-K.
Do a direct transfer rollover from your former employer’s 401-K into an IRA. It will not come directly to you and that way you will avoid any penalties or taxes. The great thing about the IRA is the flexibility and choices you have to invest in more than 8,000 mutual funds. In your 401-K you only have the option of about ten.