There is no limit on the amount that can be rolled over, without penalty, into a rollover IRA account. Once inside the IRA, the rollover money can be invested by the account-holder in virtually any type of investment.
Any IRA -- including one previously set up to accommodate personal contributions -- can accept rollover funds. Accounts can be established with minimal paperwork through most banks and financial institutions.
LifeWire, a part of The New York Times Company, provides original and syndicated online lifestyle content. David Fisher is a freelance writer based in Bend, Ore. In addition to 25 years as a writer and editor, he has worked as a professional financial adviser.
