retirement

[vips]

I am about to retire form my current employment. Though I plan to "retire", I do not plan to stop working.
I do have a meager 401K.
Should I roll this over into a IRA of some kind?
I would like to know if I can take that and A.) pay off the remaining minimal debt I have, B.) set up a payment from it to meet my mortgage obligation and replace the withdrawal with any monies earned on the side.

I think after retirement there are some other option so that you can invest money and get good returns on it in you don't want to withdraw your money to use it. Some people starts trading at that time but I think it not that much beneficial to earn regular income.