I am very new to fooldom. I have an IRA that is a rollover account from a previous employer. It currently has about $3500. It is at a bank earning 2% interest with a yearly fee of $18. It is time to move it. I am not planning to add any more to it now because my present employer matches 100% in my 401k. I am currently calling OLBs and requesting information packages for regular brokerage account and IRA accounts. The person I talked to at E-Trade said that if I invest in stocks in an IRA any gains would not be taxable. However, if the account loses money I would be taxed for early withdrawal. Therefore I should probably put my money in mutual funds. That doesn't make sense to me. Mutual funds can lose money too. Maybe Mutual funds are the way to go because of the small size of the account. Any advice would be appreciated.
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