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Greetings, Imageit, and welcome. You wrote:

<<I just finished reading You Have More Than You Think. It opened my eyes to many investment facts. Especially the fact that I could do MUCH better than my current managed IRA account which is invested in a variety of mostly growth mutual funds through a major financial institution. And for '98, as a whole came in well below the S & P 500.

My question is how do I get my money out of my current IRA account and into an account I can self-manage? My concerns are avoiding penalties for early withdrawl. Do discount brokers offer IRA accounts that individuals can transfer into and then self-manage?>>

They sure do in something called a self-directed IRA. Just pick the broker of your choice and tell that agency you wish to open a self-directed IRA via a transfer of your existing IRA. That agency will send you two forms, one to open the IRA with that broker and the other directing the old IRA custodian to transfer those monies to the newly opened self-directed account. Complete both forms, return them to the broker and sit back. In 20 days or so, your old account will be liquidated and the money will be sent to the new IRA. There will be no income tax implications to you as a result, and when the money is in the new IRA you can trade to your heart's content.

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