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Greetings, HLANDAU, and welcome. You asked:

I recently received a lump sum retirement settlement that I placed in an existing 401(k). Can I move this money to some other retirement device, e.g., IRA?

A retired friend of mine wanted to know where to invest some money that was sitting in an IRA that he had (it collects an unfoolish 5% from a bank). My friend is in his late 70's.

If you're still working and participating in that 401k, then you won't be able to now move that rollover to an IRA. You're stuck until you leave that job or retire unless your plan has provisions for in-service withdrawals after you reach a certain age, usually age 59 1/2. You should check with your benefits administrator to see what's allowed within your plan.

Your friend can invest his IRA money in virtually anything he chooses, but he must make the choice based on his tolerance for risk and on when he wants the money from that IRA. The sooner he wants it, the more likely he should keep it right where it is. We can't make recommendations because we know absolutely nothing about him or what he's seeking from that investment. Additionally, in Fooldom we believe every person must make their own investment decisions based on their goals and after their own research. We can and do comment on alternatives under consideration, but we believe most strongly that everyone must make their own choices.

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