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Author: RetiredVermonter Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75872  
Subject: Re: CBSMarketwatch -- The Joke is on Retirees Date: 9/25/2003 6:24 AM
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Good post!

Buy cheap funds and manage your own portfolio.


As I have posted before, I have a self-directed IRA and I pick and choose my mutual funds and/or individual stocks. Within my Fidelity family, I can switch among a LOT of funds free and buy or sell stocks for $14.95/trade. I'm up substantially better on my OWN buys/sells this year than my funds, by the way, even after paying my commissions in there.

However, a caveat here: I've been "playing" this game for several years, and have been bitten enough along the way, before using my IRA, to have learned a few things. Self-directing an IRA is NOT for someone who just decides to jump in and start hammering away! He or she can lose big time! (And, unlike trading outside your IRA, you do NOT get to deduct losses in your IRA on your income tax.)

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