Since 2007, the majority of Americans who are rolling over their 401k plans are choosing to put their money into an IRA offered through major banking institutions. However, some financial advisors are wondering if that is the best place to rollover 401k plans. This is because there are some indications that banks are not necessarily a safe place for your money. Of course, rolling over your 401k to any IRA is better than not rolling it over at all and taking a lump sum withdrawal when you leave your company. If you choose to withdraw your funds instead of rolling them over, you will not only immediately pay income tax on the amount you … [Read more...]