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I left an environmental consulting company in CA and am now working as a teacher in NYC.

I need to do something with my 401k (which is now pretty small after the last year or so). I can't roll over my 401k into any retirement options for my new job so I need to open a personal account.

What are the different tax implications of: a direct rollover into a new personal retirement account versus the transfer of the funds to an personal IRA account?

And are there any advantages to converting the funds into a Roth IRA?
I am 31 now, still awhile until I am buying a Winnebago.

I pretty much want to leave the funds (which are in a family of mutual funds) alone, but be able to move them around within the fund family later.

Any input would be appreciated.
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