401k Roll-Over

[William Good]

Hi, 

I am really new here to Bigger Pockets. I have been a member for a few years, but just recently starting gaining Huge interest in the podcasts. I am changing day jobs this week and that will give me the opportunity to roll my 401k. Can I roll my 401k into a self directed IRA? Are there limitations? And any good advise to shelter from that hungry tax man? I have a nice little nest egg after 8 years of contributions by me and the company that I worked for, that could be used in a self directed IRA. It could be the genesis that really kick starts some good real estate investing. Any and all recommendations are welcome. I see that there is a related topic that I will check out, But would still love to hear from the BP folks. Thanks tons for taking the time to respond.

[Dawn Anastasi]

Even if you want to roll over a 401k to a Solo 401k, be prepared for it to take quite a long period of time. There is a lot of paperwork to fill out, and bank account(s) to set up, and communicating with your current 401k company, and waiting for them to approve the withdrawal, mailing the checks, depositing the checks, and waiting for them to clear.  Be prepared to spend 2-3 months waiting on this process.