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401(k) vs. IRA: financial whizzes, please tell me--why would I switch from one to the other?

Asked by Jeruba (55829points) October 13th, 2011

I am retired.

If I have funds in a 401(k) with former employers, what would be the benefit of rolling them over into an IRA? What’s wrong with leaving them where they are?

I’ve been told that I should do that, but the reason isn’t clear to me.

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