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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75340  
Subject: Re: FOOL4 IRA Date: 12/5/1998 11:04 AM
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Greetings, Larsdad, and welcome. You asked:

<<DEAR FOOLS, SINCE MY WORK STARTED A 401(K) PROGRAM TO WHICH I MAX MY CONTRIBUTION, THE IRA'S (MUTUAL FUNDS) THAT I HAD PREVIOUSLY HAVE GONE UN-CONTRIBUTED TO. CAN
I ROLL THE MONEY IN THE IRA'S INTO AN F4 INVESTMENT AND NOT BE PENALIZED?I HAVE AROUND $20,000.WHAT DO YOU THINK? LOOKING TO GET "FOOLISH", LARDAD>>


Ouch! Puh-leeze turn off that dratted Caps Lock key. It makes your message hard to read, is very tough on the eyes, and is also the on-line equivalent of shouting and deliberate rudeness. While I'm sure you meant no harm, you should be aware that typing in all upper case is offensive to some.

As to your question, yes, you can move your existing IRA money to a self-directed IRA at the broker of your choice. The broker will help you arrange for a direct transfer from the old custodian to the new, which will eliminate any problem for you as regards taxes and penalties. Just tell the broker that's what you want done. That agency will send you two forms. One is to open the new IRA and the other will provide transfer instructions telling your old custodian what to do with the funds. Complete both forms and return them to the broker, and in 20 to 45 days your new IRA will be ready for you to trade in securities on your own. How you invest those funds is up to you.

Regards….Pixy
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