401k
Can I roll over my 401k into a cd-ira without penalty? My last day of work is December 28th, 2023. I don’t want anything to do with the stock market.
Terry Says
Yes, you can do that. Go to the bank and open an IRA rollover account. (Be careful. They also have brokerage offices and might tempt you to open a money market account in their brokerage division!). Once the IRA rollover account is opened, ask them to help you do a direct transfer from your former employer’s 40l(k). Do NOT take a check. And if you must, be sure to endorse it to the rollover IRA and deposit it immediately, and for sure not longer than60 days after receipt.
