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1) I HAVE READ THE POSTINGS ON RESCUING A
DYING IRA FROM THE HANDS OF A DISINTRESTED INS. GUY. MY QUESTION IS
CAN THEY (THE INS.GUY) PENALIZE ME FOR TRANSFERING THESE FUNDS TO
ANOTHER ACCOUNT?


Welcome, Adtech, I am not an expert at all, I am just replying to you on a few points I have learned, and the REAL smart folks here can touch up my reply! I want to show them I'm learning something around here & and am trying to pull my weight! ;-)

Regarding your first question, it depends on your particular account and company. Some take your money at the beginning, when you make each contribution and not at the end. Some don't take your money at all. If you roll it straight over into another tax-deferred retirement acct, you will not be assessed taxes. You can just call the company and ask them about fees for transferring.

2) IF I LEAVE THIS ACCOUNT A REGULAR IRA. CAN I OPEN A ROTH IRA AND
FULLY FUND BOTH IN THE SAME CALANDER YEAR.(IE 4K)

As I understand it, NO, you cannot contribute to both for a total of 4K for the same tax year from this year's earned income. I believe 2K is the max total per person. However, you could contribute a total of 4K if you have spouse, btween your two IRA's. (I am rolling over an old 401a into an IRA (this is more than 2K), PLUS funding a new IRA acct, or Roth for tax year '98 w/max 2K, and my husband is also contributing max 2K to some kind of IRA for '98. Rollovers of past years' monies in other retirement accts do not count toward your max. 2K per person for the current tax year.

3) IF NOT WOULD IT BE BEST TO SELF-MANAGE THE ORIGINAL IRA, FULLY
FUND THE ROTH AND
CONTRIBUTE AS MUCH AS POSSIBle

I will bow out here, as I'm not exactly sure what you mean...I hope I didn't confuse you, and I'd wait to have somebody brainier confirm this here! :-) meowiz
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