Actually - just thought of something... what if I rolled it over into my new company's 401k, and then took a loan? That seems legitimate. What do you think?Taking a loan from a 401k is a terrible idea. For one thing, most 401k's require you to immediately pay back the loan if you leave the company. If you don't, it is considered a withdrawal and you get dinged with income tax and early withdrawal penalty.A self-directed IRA is much superior to a 401k in terms of investment choices and fees. I'd never roll over my 401k to a new employer's 401k.You really need to closely study www.irs.gov/pub/irs-pdf/p590.pdf It has all the answers. It's just sometimes hard to get a complete understanding of the answers. ;-(Get a hardcopy printout so you can yellow-line and cross-reference sections.