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Subject:  Re: Switching 401K to a Broker Date:  7/14/2000  2:30 AM
Author:  TMFExRO Number:  23361 of 88828

<< I would like to invest one of my 401K plans from a previous employer. It is not doing well and I would like to rattle the dice in the wireless market. I want to switch the entire fund in such a way that I do not get stuck with taxes should the previous fund withhold the 20%, so the new account would have to be qualified in some way. I am 62, but plan on working until the dirt nap. Where do I find such a broker? >>

What you want to do is a direct transfer of the 401(k) to an IRA with a broker as custodian. As long as the money is not distributed directly to you, withholding is not required. If you need help selecting a broker, check out TMF's Discount Brokerage Center. There's a link on your "My Fool" home page.

Phil Marti
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