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Greetings, wmmpayne88, and welcome to Fooldom.

<<Currently have entire IRA in several different Vanguard funds which have just gotten to significant $ figure. While I like the returns, I want to try the Fool strategy with a portion of the money.

How would u go about setting up a self-directed IRA, using part of the existing Vanguard IRA monies. Can you eliminate the 60 day tax consequences? .>>

Rayvt outlined one way you may arrange for a direct transfer of funds from one IRA to another. If Ameritrade isn't your choice, then simply contact the broker you wish to use and tell that agency what you want to do. That office will send you the necessary forms, you complete and return them, and then sit back. In three weeks or so, your new account will be all set up and ready for your trades.

Another way is to notify Vanguard you wish to have a specific amount or all of your funds sent to you for further rollover to another IRA. Instruct Vanguard not to withhold any taxes. Vanguard will then send you a check. You, in turn, ensure it gets into your new IRA with your broker within 60 days of receipt.

Any of the methods will work.


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