what is a 401k rollover?

What is a 401k rollover?

A rollover IRA is when you take your 401k from a former employer and roll it into an individual retirement account. Once it’s inside the individual retirement account, you can pretty much invest in whatever stock, bond, ETF, or mutual fund on that platform that you chose to roll it to. Once you retire, it makes more sense to roll your funds out of your 401k and to an IRA. If you’re still working, a rollover IRA might not be the best option for you. It might be better to move the 401k from your old job to the 401k at your new job.

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Casey Smith
President, Wiser Wealth Management

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By Published On: May 12, 2023

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