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Financial Planning / Foolish 401(k)s
|Subject: Self directed IRA's||Date: 2/1/1999 12:49 AM|
|Author: wild7and8||Number: 797 of 25614|
I left a job 2 years ago in which I had a 401k account at the Principal Financial Group. I have been very disappointed with my accounts performance.
I have an account at Datek online. Very happy with this online broker. Trying to make sure I understand the steps I need to take.
If I open a self directed IRA with Datek can I then:
1. Buy and sell stock in individual companies in the same way that I do with my regular brokerage account?
2. This would of course be funded with the money I would rollover from the Principal Financial Group. After opening account would I then contact the Principal and request that my funds be transfered?
3. Lets say $25k gets rolled into my new Datek account. I could then invest in companies or funds of my choosing. Only being able to add the $2000 for my wife and I on a yearly basis?
4. If I open this account can I also open a Roth account with Datek and put $2000 apiece in it for this tax year?
Thanks in advance for any help on this?
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