my investment councelor charges 1.4% and is ok but less than s&p 500... i'm 56 and may want $ in 3-4 years. so what do i do to get $ put in american express (free trades?)? and who directs my withdrals later, to be irs etc. correct?
First, may we presume that you are talking about an IRA account? If so, then all you need do is contact the firm you want to be custodian of your IRA and ask them to arrange a transfer. After age 59-1/2 the custodian of your account--who ever that is--can help you workout a payment plan that satisfies the IRS.By the way, American Express is not noted for their low cost trades. A discount broker would be the most versatile choice for your future custodian--especially if you want to invest in stocks or a combination of stocks and mutual funds. But you could also go to a major mutual fund company and ask them to set up an IRA account. Vanguard for one offers index funds and is usually very low cost.
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