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Greetings, Goldenkj, and welcome. You asked:

I would like to open a Roth Educational IRA for my 4 year old daughter. I haven't done so yet mostly because of my distrust of mutual funds. The correction has given me renewed incentive to get moving.

Can I use the $500 for individual stocks or do I have to use a mutual fund?

You may open the EIRA with a broker or fund. The problem will be to find one (particularly a broker) that will accept the account. Many funds and brokers will not because the contributions are limited to $500 per year. That's a very small amount of dollars for the administration that would be involved. Consequently, many custodians simply don't want to be bothered.

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