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Investing/Strategies / Retirement Investing
|Subject: Re: Mechanics of Investing in IRAs||Date: 5/24/2001 11:46 AM|
|Author: scottfm||Number: 29886 of 76384|
I have a specific index fund that I want to buy, but it's not offered through etrade. Does this mean I have to open another IRA somewhere else, maybe directly through the mutual fund company?
Most likely "yes".
but if I do open a new IRA, can i take the uninvested $385 that I have at etrade and put it into this new account?
As long as the money is still in the associated cash account (i.e., money market) and not already in the IRA, you can do whatever you want with it.
Also, I foolishly (not Foolishly) opened an Ameritrade account and bought a few shares of Cisco...I have about $400 in there now, and in the interest of consolidating my finances, I'd like to close that account and put the shares into my etrade account...is that possible, or do I have to sell the shares and take the loss?
Probably a good idea to consolidate under one or the other. Yes, you can transfer the shares from one brokerage to another, so there's no need to sell the shares. Go to whichever broker you want to transfer them to and look for their account transfer form. There may or may not be a fee associated with the transfer. I think in general, there shouldn't be one.
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