Directly rolling over a 401(k) plan to an IRA with a custodian like Fidelity, Schwab or Vanguard is something most people should do as soon as possible after they retire. Why? Because most 401(k) plan investment options are designed for people saving for retirement, rather than for those who need their nest egg to generate income to help pay for everyday expenses. Rollover IRAs offer access to a wider variety of investment options, many of which may have lower expenses than the funds in your 401(k) account. But since you may need money in your IRA to last 20 years or more, you may not feel confident making your own investment decisions. A low-cost robo-advisor can automatically invest your rollover IRA money but won't be able to answer your questions or address your concerns. That's why it may be worth paying more for the services of a fee-only fiduciary financial advisor. They not only can manage your investments but can come up with a comprehensive plan to address the financial opportunities and challenges you may face during retirement.