I will be receiving $6,000.00 from a closed out profit sharing program from my older defunct company. I do not want to roll it over into my current employers plan nor into my own traditional IRA account. The reason being is my current IRA is Twenthiest Century Ultra and the employers plan has me in comfortable Index Funds. I am willing to be a bit riskier with these dollars to capture a better return.

Am I better off starting this new account or rolling it over into my current IRA? Will they allow me to do this with no penalties??

Also fishing for a good fund with "moderate" risk. I am 30.