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As a total novice, I need your sage (Foolish) advice re above.
I contributed for a short time to a 401K plan. Company went Belly-up, end of 401K plan.
My questions: Can I convert this amt. into a Roth, (or regular type) IRA?
If so, Is there a Tax or other penalty for doing this?
If conversion OK, may I then nominate investments of my choice, using that money?
If so, may I change these investments at a future date?
I'm thinking along the lines of investing above money in the 'Foolish Four' and updating from year-to-year.
Hope you can help. Please advise at:
Thankyou...........G.F.W >>
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