here it says http://www.moneysavingfreetips.com/401k-rollover.html " If you create a separate IRA for your rollover and if your existing company allows this, you can move your IRA into a new employer’s IRA sponsored program (thats if you change jobs)."
how exactly is this done? what are the steps? is there any credit checks involved?
I don’t get why you’d want to mix it up with your new company’s stuff. All you need to do is rollover your 401k to an IRA. You don’t want to ever tough the money. A company like Fidelity can easily do it all for you. The IRA gives you a lot more investment options.
You can also use a self-directed IRA where you can buy private companies, real estate, etc. I think they do a credit check to verify identify but that’s it. I have a fraud alert (Fidelity laptop theft and my 401k is through there) on my credit report so they required proof of ID when I setup my self-directed IRA. The self-directed IRA’s are usually through trust companies.