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Hi there...

After leaving my company, I rolled over my retirement ($30K) earnings into a traditional IRA with Schwab, and it's just sitting in their money market earning 5%.
Unfortunatley, I did this AFTER learning about all the cheaper brokers out there, and I don't think you're allowed to roll-over more than once a year. Anyway, now that I'm with Schwab, where should I allocate these funds? I'm interested in the "foolish four" stradegy, but this could be expensive with Schwabs commissions. Should I just wait a year and move to a cheaper broker?

Thanks all!
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You can only do one rollover a year, but you can do a trustee-to-trustee transfer more frequently. Like whenever you want.
So you can choose a discount broker and make your trade when ready. However, expect Schwab to assess a fee, probably $50 for transferring the money out and closing the account.
Best wishes, Chris
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Thanks for the info, Chris. Is a trustee to trustee transfer a painless process? How do i do it?
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<< Thanks for the info, Chris. Is a trustee to trustee transfer a painless process? How do i do it? >>

Totally painless, except for the fee that Chris mentioned. Pick your new custodian (TMF has a discount broker center), and they will guide you through the process.

TMV ExRO
Phil Marti
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Thanks for the info, Chris. Is a trustee to trustee transfer a painless process? How do i do it?

Totally painless, except for the fee that Chris mentioned.

Except that your former custodian may decide they like hanging on to your money. I think law allows them to hang on to it for up to 9 months.
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