UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: Shawny Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75540  
Subject: Rearranging 2 IRAs and a SEP IRA Date: 2/24/1999 2:04 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Hello All!

I am in the current situation:

I have to regular IRAs with a combination of about $2,000 in them.

I also have a SEP IRA that I set up when I was self-employed. I've got an employer now, so I can't contribute to this account.

These IRAs are all mutual funds set up with Putnam Investments.

I want to take out my $2,000 to use as my bankroll to start some self-investing in stocks, using what I've learned by getting acquainted with the Motley Fool.

I was thinking of rolling my SEP into a Roth, but Putnam said once I did this, since it was a conversion account, I could not add anymore $$ to it, that in order to add $$ to a Roth, I would have to open up yet another one strictly for investing. Would it be better to just take my SEP money out of Putnam, take the hit to liquidating the SEP, and invest it in a Roth that I then could actually put money into?

I've read here that some people do actual trading and exchanging of stocks, using Fool 4, etc. in the Roth's, how is that possible, where did they go to set them up?

Any advice on my SEP - to - Roth question, or my IRA question would be appreciated.

thanks,
shawnw
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

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

Kate Spade's Wild Ride
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