No. of Recommendations: 0
I will soon be turning 18 and will be managing my already established IRA account...
I have aprox. $2,500 in a traditional IRA account (custodial up until now) that is all in one underperforming mutual fund through an expensive broker.
I want to keep all of this money in an IRA account, but I want to set up this account through a discount online broker so that I can trade stocks (using top ten strategy) at will. If I close out my existing account will I lose my IRA tax-exempt status? Do I have to wait until December to complete this transfer? What is the first step? Thank you very much!
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
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 Glassdoor #1 Company to Work For 2015! 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