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Altho I've done a lot of investing (mostly with full-brokerage services until now :-) ) I am new to this site so I hope this question hasn't been answered before.
I have a 401K account from a former job that I've left invested with that company's plan (which hasn't had great returns) and I also have some other funds from a different previous employer from when part of the company's pension plan was terminated. I rolled these funds over into a tax-deferred annuity which has had so-so returns.
I would like to invest both of these accounts more wisely and more profitably. They are both in mutual funds currently at different companies and I'm thinking I would be better off buying stock with them. My questions are: 1) Would I need to roll these over into a self-directed IRA so I could invest them as I want?
2) Since I've read before that a person shouldn't mix retirement funds that have both employee and employer contributions (the 401K money) with strictly employer contributions (tax deferred annuity). Is this true? Should I and/or can I legally combine them into the same IRA,etc.?
Thanks a lot!

KC
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