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Congratulations on your new job — but you’re probably wondering what the 401k rules are with regards to your investment account at your old job. Although you can no longer make contributions to a 401k that is tied to a former workplace, there are several options available.

Here are three things that you can do with an old 401k:

1. Keep The Money In Your Old 401k

This is the simplest option available. If your old job will let you keep your old 401k, then you should do it. After all, you are probably used to the account’s website by now.

However, there could be some problems with this option. Some 401k plans require you to keep a minimum balance when you leave. Additionally, you could be paying more fees and expenses for your account now that your old job is no longer cover the costs. Also, if your old company goes out of business, you could have a difficult time trying to access your account.

2. Move The Money To Your New 401k

Consolidating your old 401k by moving the money to your new 401k could be a great option. If you new 401k has good investment choices, this might be a no-brainer.

But, there could be complications. Your old or new 401k might have additional fees for the move. Also, your new 401k may not have good, low-cost investment choices.

3. Rollover To An IRA — But Know The 401k Rules

A 401k IRA rollover is usually considered to be the best option around — especially if you are with a good IRA provider with many low-cost investing options.

But before you do the rollover, make sure that you know the rules for an Individual Retirement Account. If you make too much money then you may not be allowed to open an IRA.

When you are moving your 401k to your IRA, you can either do a direct rollover or an indirect rollover. Most experts agree that you should opt for the direct rollover because of 401k rules. The reason for this is because an indirect rollover can be risky from a tax perspective.