[NEMDF]

Not while you are still working at the employer/sponsor of the 401(k) plan.

[SamAdams76]

That's not necessarily true. When I turned 59 1/2, I was able to do what is called an "in service rollover" in which I transferred the bulk of my 401k into a self-directed IRA. I was able to do this while still employed. Further, I'm still able to contribute to my employer's 401k plan.

Not all companies offer this and some that do may not let you continue to contribute to the 401k for a period of time. So you should check your company's policy before making any moves.