What do I do with my 401K?

Well if i was having 401K sitting in some pension or IRA then i would definately invest it in a private mortgage through www.lexxco.com the GTA's Most Reliable Mortgage Investment Corporation. You can contact them on 001-416-621-0141 or 001-647-628-3274.

If you have over $5,000 vested you can leave it with your former employer.

If you have between $1,000 and $4,999 your employer will most likely automatically roll it into another retirement vehicle (such as an IRA). Keep in mind this will be a completely different plan with different funds and fees.

If you have under $1,000 and do not elect to roll it over or cash it out, it will automatically be cashed out by your employer.

You can roll it into an IRA (not Roth IRA unless you had a Roth 401k...you can't mingle pretax and post tax money).

Your former employer should send you distribution paperwork with a tax notice. This will give you all the information on the options you have.

Whatever you do, do NOT cash it out. It's just not worth the taxes and penalties.

It is possible you can leave it where it is--- you need to check with the HR department of your previous employer. If not, it can be rolled into a Roth IRA (but taxes will have to be paid out of it first). This is not a bad idea if you are young, as it can continue to grow with no further taxes due. The HR department has the paperwork you will need to roll it out into an IRA or a Roth IRA. You can use a mutual fund as the vehicle or even a bank CD. Check with an investment advisor if you need direction.