Roll 40l(k) into IRA?

Hi Terry, my employer is having us take our profit sharing 401K out of our current management firm and place it individually where ear choose. ( I know it’s unusual). I am 60 and hope to retire in 5 years. Would it be better to keep it as a 401K , which is a little more complicated or roll it over into an IRA?
Thank you.

SAVAGE SAYS: This is a pretty good opportunity to ROLL your plan into an IRA at a mutual fund company that likely offers more diverse and appropriate investment options for someone approaching retirement, and probably has lower costs, too!? I suggest you do the DIRECT ROLLOVER to Vanguard or Fidelity. Make sure you DONT take a check, or touch the money yourself. It must move from your current custodian at the company plan into an IRA. They will handle all the details, and they will give you investment advice about which of their funds to choose, based on your goals, time horizon, and risk tolerance. Just contact them at either 800-Vanguard, or 800-Fidelity, and they will handle all the paperwork.