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The decision factor for me would be whether you are currently employed and earning any significant income. If not, if you will be in a low tax bracket and the value of the 401k will not push you into a high tax bracket, then it could be cost effective to do a Roth conversion now. But more likely I would roll over to a Traditional IRA and then self-manage. I wouldn't pay Vanguard $40 a year to self-manage a portfolio even with $7 trades.

Who has a current Traditional and Roth 401k, a Traditional IRA Rollover, a Roth IRA, a SEP IRA, a Traditional IRA and a Retail account...
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