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Subject:  New to Fool - lots of questions Date:  2/3/2004  9:38 AM
Author:  itsdulytime Number:  38905 of 88498

Hello. This is my first time posting on this website and I have a lot of questions. Up until last week I really knew absolutely nothing about any sort of investing. I am single and 26 years old. I have never taken the initiative to learn about investing, as I was always hoping to meet and settle down with someone that would be able to do that for me. Well, that isn't going to be happening any time soon – and I need to get this figured out because my “young” years are running away from me. I have made it through Fools School and couldn't resist the temptation to get advice from some of the Fools out there.

First I will let you know what I am currently doing with my money and some investing. I work for a local government unit and put away money each paycheck into our 457 plan. I put 100 percent of the money into a Passively Managed U.S. Equity Account, which is allocated 100% to the Vanguard Total Stock Market Index Trust.

I also have a Traditional IRA that is invested in Russel's Lifepoints Aggressive Strategy Fund (A shares). I rolled over my 401(k) from a previous employer into this IRA. I now realize that I should have probably rolled it into my current 457 plan, but I didn't think my options in the plan were that good until I learned a few things from this website about indexing. I opened up this traditional IRA very blindly, and now I don't know what to do with it. Can I transfer that money somewhere else now even though I just opened up the IRA a few months ago? I only have about $4,000 in this traditional IRA, and am currently not contributing anything to it.

I also have a Roth IRA (B Shares) that I opened up when I was 22 because I had a little extra money and thought it sounded like a good idea. However after opening the Roth IRA I bought a house, and no longer had the funds to add to my Roth IRA. I currently only have about $1,000 in the Roth IRA. I opened the Roth through my bank (Bank One), and the money is allocated to an Investor Growth Mutual Fund. I also am not currently contributing to this Roth IRA.

At this point I only have about $300 to be putting towards retirement each month, and feel uneasy about having these IRA's floating out there. I guess my main question is, factoring in the amount I have in each of the IRA's, is it worth moving them around at this point, and how exactly do I do that. If I should move them somewhere, any suggestions, considering what I am putting money towards in my 457 plan?

Sorry this got so long, but I think writing down my questions has helped me a lot already. Any advice would be greatly appreciated. Thank you in advance.

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