401k Question

Hi all,

I have a pretty decent amount in pocket change in a private 401k from a company I used to work for. When I asked to switch over to a Individual Roth Account (IRA) to continue investing funds, the Asset Managment Firm (AMF) informed me I would basically need to pay the taxes in order to roll it over into the IRA.

While my original plan was to stay with the same AMF, now I am looking into other investing firms but feel like putting pennies to the dollar isn't enough to get the ball rolling on investing and getting dividens/high interest. Although the current account gets a decent chunk of interest and I think dividens, I want to build on the compounded interest.

My question is, would someone else that is a little more financially savvy roll over the account and pay the taxes in order to create an IRA to continue adding to it for the compounded interest?

Thanks!