When switching employers, is it better to roll your 401k to your new employer, or move it to an IRA? I don’t know what to do!!

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IRAs are generally more flexible and allow you to invest in just about anything. If simplicity is your goal 401k is fine.

Trying to think of any negative to IRA approach... if you have traditional 401k or a mix would the IRA approach create issues with a potential future backdoor Roth?

You wouldn’t be able to do a backdoor Roth as the amount the would be taxable in the ratio of basis in the plan to total assets.

You also can’t take a loan from an IRA.

Best to role it to prevent paying any tax on taking the money out. However, if you think another company other than the one your company uses (i.e., Fidelity, Charles Schwab, etc) then you can roll it into an individual IRA at an institution of your choice.

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