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<I'm starting with retirement planning for my wife and I. She's 34 and I'm 35. Combined, we've got about $45K in our 401K plans camped safely away in some mutual funds. Would make sense,however, to get a better return by moving that money into the Foolish Four. Is there a way to rollover that money into a self-directed IRA so that I can do this and perhaps use a percentage of the money to foolishly invest in small cap stocks, too?>

It depends on your plan. If it is any good, it has a self-directed option so you can invest in (at least) stocks of your choice. I judge from the postings on these folders that few are like that. Next bet is a plan that allows roll-overs before you retire, quit, or die. Then you establish the IRA at a broker that permits self-directed IRA's, and AFAIK, they all do. Then you roll the contents of your 401(k) into that. But you want to keep your 401(k) running so you can continue to put more than $2000/year (each) into them, and to get the employer contributions (if any), since they are free money. There are probably fewer 401(k) plans that allow rolling them over than there are that permit self-directed investing. The last approach is getting your union to agitate for a self-directed option in the 401(k).
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