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Subject:  Re: reinvesting IRA CD to IRA money markets Date:  1/5/2000  10:22 PM
Author:  gtstarling Number:  17410 of 88542


Welcome! You asked:

Is it possible to simply withdraw my IRA CD at 5% (i will have to pay a small penalty) and reinvest it in an IRA money market with 15 or 16% interest and not worry about any problems at tax time. I also have savings bonds in my childrens name and all have matured. I would like to invest them in money market accounts.

Where can you find a money market that pays 15 or 16% interest? Foolish investors usually use Money Market funds as a parking place for money that will be needed in the next 3 - 5 years. Investments in equities generally give better returns over a longer time period.

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