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 75336  
Subject: Re: Rollovers, conversions, etc. Date: 3/11/1999 9:32 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Greetings, Rich, and welcome. You asked:

<<Now, neither of us cares if we roll our former 401ks into another, some day. We would like to combine/add to these funds in a Foolish way. Can I roll my recently rolled over money immediately or is there a waiting period?>>

There is no mandatory waiting period on moving money from one IRA to another IRA as long as you use a direct transfer of the funds from the old custodian to the new custodian. You may do that as often as you like. All custodians know how to do this. Just ask the new (or target) provider for the necessary application and transfer instruction forms, fill them out, send them back, and wait for the money to be transferred.

<<Is it best (or even possible) to roll the money into a new IRA gradually, or is it best to go for the full monty?>>

Yes, it's possible; however, you will have to complete a transfer instruction form each time you wish to do so. What's "best" only you can decide based on your investment desires, knowledge and willingness to accept risk in the desired investment.

<<How should I handle the old IRA and the annuity? >>

Again, that's entirely up to you. Be aware, though, that if you surrender the annuity you may encounter cancellation fees that will be imposed by the insurance company. Know what those will be before you do. You may want to wait until they disappear before you do anything, so that means you must know what's in the contract.

Regards….Pixy
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

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:
Value Hounds

Medallion Financial: TAXI!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
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.
Advertisement