UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: r5473c Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75340  
Subject: SEP IRA Date: 12/21/1999 9:19 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I have an employer funded SEP IRA that is managed by a broker (Class B mutual funds). Our company meets as a group with the broker when the distributions are made. The distribution checks are signed over and the investment decisions are made at that meeting.

The broker receives a percentage on the account that decreases over time. I think I have to ante up if I close the account before a specified time elapses. If I want to purchase (new) stocks, I have to buy a minimum of 25 shares and pay the broker a fee.

I'd like to open a self-directed discount account for stock investments. How do I get my hands on this years' distribution without the broker getting his paws on any of it?

As an aside, I told the broker two years ago that I wanted to buy Cisco, Intel and Microsoft. He talked me out of it, saying that the mutual funds would be a better way for me to go.

r5473c










Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | 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

Medallion Financial: TAXI!
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