I've recently switched jobs and have just been informed I cannot leave my funds in the 401k because its less than 5,000.I would like to start a Roth IRA, but the online broker I was checking out said 401k cannot be rolled over into a roth IRA. Is this true? I thought if I paid taxes on the money I could put it in a Roth without the 10% penalty. I'm going to open a roth account anyways and don't really want the hassle of two seperate IRA accounts.Is it ok to have three IRA's. Two Roth's, one for myself, one for my wife, and then this other conventional IRA because of my 401k rollover.I'm young, new, and nieve, so any suggestions would be greatly appreciated.
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