<prompt> Human: Inherited 12k from my deceased fathers retirement plan. I must have that amount completely withdrawn by the end of next year. Im looking to put it to some use for me, investments or otherwise. I can realistically take about half of that amount each year to avoid bumping up to a higher income tax bracket. Heres my situation: Married, two young children, 68k combined salary. 300 currently saved towards a 1000 emergency fund would like to save 6 months salary eventually which I plan on putting in a high yield savings account. I also have 44k in student loan debt. Id like to build my own retirement, though my employer doesnt offer a contributions program. Should I reinvest it in an IRA or something of the like? Stock market? Or do I go after the debt and e-fund? Whats the best move?  <response>: You should be able to rollover the 401K into an IRA and keep the tax deferred, but there are specific rules to the process. Its called a trustee-to-trustee transfer. You need to set up an IRA specifically for this purpose and you will be required to minimum withdrawals from the IRA in order to avoid a penalty.Best bet is to consult with your tax professional on this matter.More info here: 