I would like to know if anyone can tell me how to make my own IRA. I'd like to place at least my maximum contribution allowed into an IRA, but don't necessarily like all the funds out there. Can anyone help?Thanks alot.
Yes you can. It is called a "Self Directed IRA." You are allowed to trade inside the Roth or Traditional IRA just like a brokerage account. I have done this through USAA, but I expect other large fund companies have this option as well.
Darryl, as Bucky said, you can create an IRA (Roth or regular) with any number of investment firms, from Ameritrade, or Charles Schwabb to Scottrade, and trade in any listed stocks on the NYSE, NASDAQ, buy listed bonds, or even mutual funds if that's your preference. Also, if you are lucky enough to have an employer that has this option built into the 401K program, you can create a self-directed program within a 401K (the one at Fidelity is called a "brokerage link" account) wherein you can, again, make all your own decisions on purchases and sales. I think the only restrictions I have with my account are that I cannot use margin and I cannot buy or sell options in brokerage link -- not a concern anyway. So, shop around and invest in good health! DP
DonnaPawl,You wrote, Darryl, as Bucky said, you can create an IRA (Roth or regular) with any number of investment firms, from Ameritrade, or Charles Schwabb to Scottrade...Guys & Gals... The original post was June of 1997! (Post #49) It was also darrylh's one and only post. I seriously doubt the original poster is listening. - Joel
Joel, thanks ... I never bothered to look at the date of the original post ... how in hades did it get bumped up this far?
Joel, thanks ... I never bothered to look at the date of the original post ... how in hades did it get bumped up this far? Errr, nevermind ... I see how, now. (shakes head -- walks off) DP
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