The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing

URL:  http://boards.fool.com/my-question-is-can-i-take-that-money-and-put-12951118.aspx

Subject:  Re: IRA Question Date:  7/19/2000  4:34 AM
Author:  TMFExRO Number:  23476 of 75523

My question is -- can I take that money and put it elsewhere, manage it myself? As I have other stock invesments, I'd really just like to split it between, say, an S&P index and a NASDAQ index, continue to make monthly contributions, and not really have to worry about it.

You can roll the account elsewhere, but there are special rules with respect to a SIMPLE during your first 2 years of participation. See page 56 of IRS Publication 590, which you can download from http://www.irs.gov/forms_pubs/index.html.

You will not be able to make additional contributions to the SIMPLE since you're no longer working for the employer who sponsors it.

TMF ExRO
Phil Marti
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us