One of the most popular options is opening a rollover IRA — a tax-advantaged account that lets you move funds from a workplace retirement plan into an IRA without triggering taxes or penalties when done correctly. Feature Rollover IRA Leave in Old 401(k) Cash Out Taxes No taxes if rolled over directly; growth stays tax-deferred No taxes until withdrawal; growth stays tax-deferred Entire balance taxed as ordinary income; 10% penalty if under 59½ Investment Choices Wide variety: stocks, bonds, ETFs, CDs, mutual funds No ongoing fees, but the biggest “fee” is the tax hit None — money is removed from retirement savings Fees Can shop for low-cost providers Fees vary; some plans have high admin costs Immediate access to funds, but future retirement balance reduced Control & Flexibility Full…