First time leaving firms - not sure what to do with my 401k. Should I keep it as it is, transfer to an IRA, or a Roth IRA.

If it is the latter, I know Roth IRA has a 6k limit but my 401k has ~17k. Will it exceed the limit and if so, what should I do?

22 here, not too familiar with the process. Thanks!

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Generally the advice is to roll it over to a personal IRA and Roth IRA, as that will give you more flexibility over your investments. Contribution limits don’t apply to roll overs, so no worries there.

helpful

It depends on what you think tax rates are going to be when you retire and how much other income you think you will be bringing in during retirement. Another consideration is whether you want more money to invest now vs having less money to invest now.

The 6k limit is for new contributions and doesn’t apply to the rollover amount. That’s at least how it worked out for me when I rolled over my old 401k to Roth IRA and I had about the same amount as you. One thing to note is if your old 401k was traditional and not Roth, you will have to pay the taxes on the non roth amount if you decided to roll it into a Roth IRA instead of traditional IRA

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