Important to rollover 401(k)?

[Cheerio]

How important is it to rollover a 401(k) from a previous employer? What are the reasons for rolling over a 401(k)? I feel like my old 401(k) account is doing better than my new one, so I'm hesitant to roll it over, but I will if there is a good reason.

[nicoliae]

All of my past employers said I had to rollover within 6 months...

[SJ]

If you rollover the old 401K to an IRA, you will have more control over the funds and the investment choices.

Some employers require that you move the funds.

[SJ]

It is also just cleaner and more efficient to have one main IRA that you carry with you and maintain throughout your career- always rolling the old 401K's into it. Easier to manage than littering 401K's at a million different firms.

[Cheerio]

I didn't even think of rolling it into an IRA. Thanks ladies! I knew I came to the right place.

Now -- any suggestions on where to open an IRA? DH has Roth IRA with Vanguard invested in a target fund. Would it be a bad idea to do the same with my IRA?

[SJ]

Vanguard is a very solid company with low-cost fund options. Great pick.

[trixie459]

For me, it was easier not having that small chunk of money (from only 3 years of work) still hanging out there. I was able to roll it into my current 403(b), but ditto PP's suggestion of rolling it into an IRA.