<prompt> Human: Im a 23 year old that lost their job in the beginning of the year. Since I have not found a new job yet the people who were keeping my 401K cancelled my plan an paid the money to me. Its not a huge amount, but Id still like to invest it back into something that will grow. Money isnt an issue for me so I can reinvest it, an perhaps a bit more.Also, I heard that if I reinvest that I could avoid paying tax on it for the year, is that a thing?  <response>: You should be able to roll the entire amount into an IRA traditional or Roth, whichever it was without any penalty. 