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Subject:  Re: 401K & RothIRA + stocks? Date:  1/3/2005  4:21 PM
Author:  Fuskie Number:  43851 of 94005

I would appreciate any advice concerning this retirement question. Currently, I contribute to my company 401K to get the match, I have fully funded ($3,000) a ROTH IRA for 2004 and would like to know if it is possible to set up another type of retirement account to transfer some of my stocks? I'd like to transfer a value of about $3,000 dollars. I have less than $10,000 in retirement accounts contributed during 2004. From my understanding, I am not eligible to set up another IRA since I have contributed $3,000 dollars to the Roth? Is there another retirement fund where I can transfer the stocks? If it matters, I am 36 and earn less than $95,000 and single.

The good news is that 2005 is a new year, and you can contribute another $4000 between now and April 15th, 2006. The bad news is that you can only make cash contributions to an IRA. That means the only way to move your stock holdings into the Roth would be to sell and repurchase. If your current RIRA does not allow for individual stocks, you can always open a second account with a discount broker like Scottrade ($7 on-line transactions).

Who wonders about your eFund savings and whether you have established a budget for 2005...

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