Yes, you should roll your old 401(k) over into an IRA – leaving your 401(k) plan with your old employer is basically leaving money behind. By rolling it over into an IRA, you won't be hit with taxes and penalties, and you will have the opportunity for more control, more diversified investments and flexible beneficiary options. As long as one person in your household has a paycheck and you file a joint tax return, you can set up a spousal IRA.
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