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Subject:  403(b) to *distinct* IRA? Date:  8/5/1998  3:04 PM
Author:  drioux Number:  4876 of 88775

Hello, all. After lurking on this site for a few weeks and after reading appropriate Foolish tomes, I have decided to yank my IRA funds from the hands of underperforming mutual fund managers into a self-directed IRA account at a discount brokerage. (I am still waiting on pins and needles for the funds to magically appear in my trading account -- I am struggling with unFoolish impatience given the recent short-term market dynamics. Right now I look like the rare, Wise market-timer who actually got the money out at the peak, but I know this illusion will not hold...)
Looking to the future, I have several 403(b) accounts from my life as an itinerant academic that I would like to take control of as well. I have verified my eligibility to roll these funds over into a self-directed IRA and have the forms all ready to go. But I have a question about the destination of those funds. I have read in several places that the money from the 403(b) accounts should go to an IRA account distinct from my other IRA accounts that I started with money that actually passed through my hands. Is this true? Or, should I say, is this good advice? Why should I set up a different account? Is there some IRS technicality I may get caught in later on? Given my retentive nature and the smallish amount of money in the 403(b)s, I would much rather squoosh (a technical term) it all into a single account where I could treat my as yet uncreated portfolio as a continuous whole. Probably a small consideration in the grand scheme of retirement investing, but something to which I would appreciate a response, nevertheless. Thanks in advance for any light you could shed on this topic for me. Later.
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