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Author: sgripne Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75379  
Subject: self directed IRA's for direct investing Date: 7/5/2000 6:53 PM
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I'm new to the message board. Since I am a PhD student and don't have much money to invest, I am interested in direct investment plans, ideally through a Roth IRA.

However, I am having trouble finding any banks or credit unions that offer custodial services of a self directed Roth IRA to allow me to purchase directly. Am I making any sense and does anyone have any advice? Steph
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Author: jbking Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 23105 of 75379
Subject: Re: self directed IRA's for direct investing Date: 7/5/2000 7:09 PM
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I think this is what is happening:

1) You want to buy stocks or stock mutual funds.

2) The banks and credit unions don't really offer access to these as this is a bit out of their league, although they likely know someone that could help.

My suggestion would be to look for either a mutual fund company or discount broker that has what it is you want.

JB

PS - My Roth is with Vanguard, fyi.

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Author: TMFExRO Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 23106 of 75379
Subject: Re: self directed IRA's for direct investing Date: 7/5/2000 7:10 PM
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<< However, I am having trouble finding any banks or credit unions that offer custodial services of a self directed Roth IRA to allow me to purchase directly. Am I making any sense and does anyone have any advice? >>

Yes and yes. If you want to invest in stocks, you're going to need a broker as your IRA custodian. For help in selecting one, visit TMF's Discount Brokerage Center. There's a link on your "My Fool" page.

TMF ExRO
Phil Marti

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Author: Crosenfield Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 23107 of 75379
Subject: Re: self directed IRA's for direct investing Date: 7/5/2000 7:15 PM
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If you set up an IRA with a bank or a credit union, they will sell you CDs to put in it.
To have a self-directed Roth, you need an account with a mutual fund company or a discount broker. I'd suggest start with Vanguard and select from their mutual funds to begin your Roth; when the account is built up to $10000 or so, consider switching to individual stocks.
Welcome to investing!
Best wishes, Chris


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Author: gonefishing Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 23109 of 75379
Subject: Re: self directed IRA's for direct investing Date: 7/5/2000 8:02 PM
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Excellent idea,self directed fund. Open one with online broker, E trade dosn"t charge a fee for the service,so I am told.lol

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