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Subject:  Re: Conversion of Sep IRA Date:  1/16/1999  11:16 AM
Author:  TMFPixy Number:  7860 of 88063

Greetings, GEEKS, and welcome. You asked:

<<We have several thousand invested in a Sep IRA CD which we want to invest ourselves. Would we be better off rolling this over into a stock IRA or cashing it out and investing it in a regular stock account? We have two other mutual fund IRAs.>>

Why pay taxes and possibly a 10% penalty (applicable if you're younger than 59 1/2) when you don't have to? It's very easy to transfer the cash to a self-directed IRA at the broker of your choice so that you can trade stocks on your own. It's your choice and your decision as to what's "best" for you, but IMHO it's silly to pay taxes and a penalty when both are avoidable unless there's compelling evidence that doing so will ultimately put more money in your pocket. I don't see anything in your post to indicate that's the case here.


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