<prompt> Human: I am the beneficiary of my late fathers Genworth IRA fund 200K. Im thinking of opening a Vanguard IRA and transferring the funds there. Im just assuming at this point that this is possible and the expenses at Vanguard would be smaller than at Genworth. Anybody has thoughts on this, or advice on what the best thing to do is? EDIT: I just want to make it clear that Im not interested in cashing out the fund, just to continue the retirement fund until my own retirement. Im currently 40.  <response>: NO. STOP.People assume that if you inherit an IRA you can just move it to your own IRA. Even financial planners who should know better recommend this. An inherited IRA is its own type of account with its own rules. You have to title the account properly identifying it as an inherited IRA and you have to take distributions on a unique schedule which if you do it right an stretch over your lifetime.If you make a mistake, there is no way to undo or recharacterize these transactions and you will pay massive tax and penalties. Find a specialist who actually knows this google stretch IRA and do it right or you will lose a huge amount of money. 