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Is it true you shouldn't transfer your 401k from a previous employer into an IRA because IRA money is exposed?

Answers:1   |   LastAnswerAt:2009.12  

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billke 
Asked at 2009.12.19 00:12:53

because IRA money is completely exposed to lawsuits or bankruptcy or claims by greedy doctors and hospitals??
In other words, I heard that any money in 401k it completely off limits if you're sued, or if you rack up huge medical bills, or any other liability. No one can ever touch 401k money. BUT, IRA money can be confiscated at will by any greedy lawyer or doctor or bankrupcy or any other parasite. Is this true? It's critical for me to find out, not because i plan on being sued or sick any time soon, but i want my money to remain my money. And there are so many greedy parasites in this world these days.
answer jeff410  Answered at 2009.12.19 00:12:53
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 protects if up to a million dollars.
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