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Author: megeranski Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75833  
Subject: transfer a Rollover IRA to which kind? Date: 1/22/2000 9:31 AM
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Hello all!

just a little little question for ya today.

two years ago i rolled over my 401k to a Rollover IRA Account with a mutual fund.

i now want to transfer this to Waterhouse and self-manage it. (i have already determined that a Roth IRA will not be the best for me.)



question: do i transfer

A) to another Rollover IRA or

B) to a plain-vanilla Traditional IRA?

thank you ever so much for your help on this one little niggling question!



-megeranski
who can't wait to start self-manage that IRA!!!!!!!! hee hee hee! grin grin grin!!!!
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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 18108 of 75833
Subject: Re: transfer a Rollover IRA to which kind? Date: 1/22/2000 11:05 AM
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Greetings, Mergeranski, and welcome. You wrote:

<<two years ago i rolled over my 401k to a Rollover IRA Account with a mutual fund. i now want to transfer this to Waterhouse and self-manage it. (i have already determined that a Roth IRA will not be the best for me.)

question: do i transfer

A) to another Rollover IRA or

B) to a plain-vanilla Traditional IRA?>>


It's really the same thing. A rollover/conduit IRA is a traditional IRA. It's just an IRA that consists solely of money transferred from an employer's qualified retirement plan. As long as that's all the money in that IRA, it and any earnings thereon may be transferred in the future to a new employer's plan. Add any other money like an annual contribution, though, and then it becomes a "plain-vanilla Traditional IRA" that is no longer eligible for transfer to a new employer's 401k plan. So, it you think you may want to do that in the future, just don't add any other money to that IRA.

Regards..Pixy

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Author: megeranski Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 18120 of 75833
Subject: Re: transfer a Rollover IRA to which kind? Date: 1/22/2000 9:38 PM
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Greetings, Mergeranski, and welcome. You wrote:

<<two years ago i rolled over my 401k to a Rollover IRA Account with a mutual fund. i now want to transfer this to Waterhouse
and self-manage it. (i have already determined that a Roth IRA will not be the best for me.)

question: do i transfer

A) to another Rollover IRA or

B) to a plain-vanilla Traditional IRA?>>

It's really the same thing. A rollover/conduit IRA is a traditional IRA. It's just an IRA that consists solely of money transferred from an employer's qualified retirement plan. As long as that's all the money in that IRA, it and any earnings thereon may be transferred in the future to a new employer's plan.
Add any other money like an annual contribution, though, and then it becomes a "plain-vanilla Traditional IRA" that is no longer eligible for transfer to a new employer's 401k plan. So, it you think you may want to do that in the future, just don't add any other money to that IRA.

Regards..Pixy


aha!! i had forgotten about this Contributing Money part of the equation! thank you ever so much for bringing this to light!
As i am happily living the life of a freelancer and hope to never have to work for a company again,

it seems like transferring my funds to a "plain-vanilla" Traditional IRA is the thing to do.
(I'm just clarifying -- sorry if i'm a bit dense. it's always the little details that get ya down, isn't it!!??)

thanks again for your advice!
-megeranski
who really does love Breyer's "plain" vanilla :-)

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