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Subject:  Re: Help, please...An IRA invested in index fund Date:  1/8/2004  1:01 PM
Author:  Watty56 Number:  38415 of 88532

To do this contact to your discount broker and they will give you the forms you need to authorize them to directly do the transfer correctly. Do not try withdrawing the funds and doing the transfer yourself; while this is technically possible there is no advantage in it and there are lots of things that can cause problems.

You should be cautious though and realize that you have a lot to learn and with only ten years to retirement you would ideally be starting to be shifting to a less risky investment style, not a more risky style. Since you are likely to be living on your investments for another 40 years are so you do need a significant percentage of your funds in the stock markets and the diversification and low costs of index funds help reduce the risk.

It may very well be that you know a specific industry and have some special insights about some companies are that are likely to perform well, if so then I would encourage you to keep learning about the stock market and consider investing in these for a small percentage of your portfolio. Everyone was new to this at the start.

If you don't have any special reason to think that you have some special ability to perform well above average in some small segment of the stock market then your question about how to transfer accounts bothers me, not because you didn't know the answer, but because you could have found out the answer with a few minutes of research. If you are going to try to select stocks without having any special knowledge of an industry then you will be doing lots of research.


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