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Investing/Strategies / Retirement Investing
|Subject: Re: IRA Question||Date: 7/19/2000 4:34 AM|
|Author: TMFExRO||Number: 23476 of 73906|
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.
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