What to do with 2 Old 401K accounts from previous employers

Don't touch either

This ^^

Roll it into a Roth and take the tax hit today to save in the future.

You could roll them over into an Ira which would give you more control over them - that’s what I did. Or you could let them sit. 401k’s in general have too much in bonds for my taste, since I’m always from retirement when I rolled mine over I put it almost all into the stock market and and happy with the results.

Decide who you like from existing.. then roll the other into the one you liked..

I had fidelity from the first company I worked for … I changed companies a few times in my career and would just call fidelity and give them the specifics of the other one and have them roll them together.. ( moved a Schwab.. and Merrill).. let them do it for you.. they will make sure no penalties and roll over same index funds etc …or move them into something like it that they manage..

quote:

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401k’s in general have too much in bonds for my taste,

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The 401k’s I’ve been in over the years have many options for investments. You would only need up in something with too many bonds if that’s what you chose for your investment.

This isn’t the OT, we are a classy bunch here… well mostly.

roll into IRA

Direct rollover into a self-directed IRA

30+ years of experience as a Financial Advisor - now Wealth Management.
First thing, get it out of your 401ks and do a rollover and consolidate both into an IRA. This is a non-taxable event.

Company 401ks usually have a limited menu of choices to keep cost down. If you work with an advisor you can invest in a much wider array of products. Most, including me, are fee-based now. I charge 1%, which is pretty standard.

As far as converting to a Roth - it depends on your age. You will take a tax hit on any part rolled into a Roth but it's all tax-free after that. That's fine if you're 40, you've got time to make it up. Not too good if you're converting at 60. Time may not be on your side.