<<I left a job 2 years ago in which I had a 401k account at the Principal Financial Group. I have been very disappointed with my accounts performance. I have an account at Datek online. Very happy with this online broker. Trying to make sure I understand the steps I need to take. If I open a self directed IRA with Datek can I then: 1. Buy and sell stock in individual companies in the same way that I do with my regular brokerage account? 2. This would of course be funded with the money I would rollover from the Principal Financial Group. After opening account would I then contact the Principal and request that my funds be transfered? 3. Lets say $25k gets rolled into my new Datek account. I could then invest in companies or funds of my choosing. Only being able to add the $2000 for my wife and I on a yearly basis? 4. If I open this account can I also open a Roth account with Datek and put $2000 apiece in it for this tax year? Thanks in advance for any help on this?>>wild7and8,Yes, I think you've got everything right here. As to contacting Principal, I'm not even sure you have to do that, Datek should be able to send you a rolloever kit which may include all the paperwork necessary -- it really may depend on your plan. Contact Datek for the rollover kit, and you'll find out.You are correct -- the rollover of 401k to an IRA will not affect your ability to make your $2000 Roth IRA contribution for this year.In short, I think you've got everything correct.Bill
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