UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76384  
Subject: Re: Covnverting 401K Date: 4/1/1999 2:29 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Greeting, Jimkullman, and welcome. You asked:

<<1. Can I make a partial transfer, transferring a portion of my 401K to two different brokers?reason: one broker I like and is local to me does not handle mutual funds, and I want to invest some amount in a mutual fund with remainder in stocks).>>

Yes, you can. Just set up the receiving IRA with both, and coordinate the deposits with your plan administrator. Both the plan administrator and the brokers know how to do the transfer, so just follow the instructions they provide.

<<2. I want to start some DRiP investing and understand that the stock has to be in my name. Is this do-able with an IRA investment, or is this exclusive to non-IRA type accounts?>>

Normally, the shares have to be in your name, and I know of no DRP company that accepts IRAs. Some brokers will give you a DRP-like option by letting you reinvest dividends through the purchase of shares (to include fractional shares) already held by the broker, but not many do. USAA Brokerage Services is one that does.

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next


The Retire Early Home Page
Discussion on accelerating retirement day.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Dividend Growth Investing

Good Time for Dividend Champions?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.