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Subject:  401(k) to IRA rollover question Date:  7/8/1999  8:55 PM
Author:  paulwelter Number:  11848 of 88517

Hello Fooldom:

I am leaving my job shortly for another and would like to rollover my 401(k) into a self directed IRA. I have selected a discount broker and plan to employ Foolish investing practices, but I'm not sure how to complete the rollover. It seems to me that the money should be directly sent to the broker to avoid any penalties, but how can I make that happen without an account set up yet? I will not have a 401(k) with the new job, but rather a profit sharing program that offers a percentage of my annual income, 15% for the last 25 years.

Secondly, it was suggested to me to later convert that transferred money to a Roth IRA. Is that something that should be considered? Thanks in advance for your input, as always it is greatly appreciated.

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