If you have recently changed jobs, you may be wondering if you should rollover your 401k into an IRA. This move may make financial sense, but it can also be a bad idea for some people. While IRAs are generally more profitable, 401(k) accounts often have better protection against creditors and are less prone to tax penalties. If you’re considering a rollover, check with your IRA institution to see if there are any restrictions or fees you need to consider before you make the switch.<\/p>\n

A direct rollover means transferring your savings directly to your new IRA account. This allows you to avoid accidental taxes. While not all custodians offer this feature, some do. A direct rollover allows you to avoid having your savings sitting in your personal bank account and may be easier for you. You can also use robo-advisors to help you make the decision.<\/p>\n