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Hello I am a new Fool (have been reading TMF for the past 8 months but this is my first post) I am 42 yrs old, recently changed jobs,(wife works and has her own 401K),have a pention plan at work but would like to set up a self-directed Roth IRA.

I will have saved about $1500.00 by 11/31/98 (Our household meets all Roth IRA income Guidelines) I have seen ads from discount brokers for IRA Accts but none mention Roth IRA's by name so I have been concerned about just opening an Account thru an ad.

I have read "You have more than you think" and "the Motley Fool Investment Guide" and the books talk about setting up an account but I can only afford to set up one account this year so How do I go about setting up a self directed Roth IRA for stock investing??
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Check out the Brokers section of the Fool Home page and start visiting the various brokers. Try Souveriegn's MyDiscountBroker.com for a no fee Roth IRA.
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Mark, you asked:

Hello I am a new Fool (have been reading TMF for the past 8 months but this is my first post) I am 42 yrs old, recently changed jobs,(wife works and has her own 401K),have a pention plan at work but would like to set up a self-directed Roth IRA.

I will have saved about $1500.00 by 11/31/98 (Our household meets all Roth IRA income Guidelines) I have seen ads from discount brokers for IRA Accts but none mention Roth IRA's by name so I have been concerned about just opening an Account thru an ad.

I have read "You have more than you think" and "the Motley Fool Investment Guide" and the books talk about setting up an account but I can only afford to set up one account this year so How do I go about setting up a self directed Roth IRA for stock investing??


Virtually any broker will help you establish a self-directed IRA, be that a traditional or Roth IRA. If the broker offers an IRA, be assured it will offer both types. Your biggest trick will be to find a broker you will be comfortable with both in terms of cost and administration. Do seek out the excellent pointers on finding one in TMF's broker area. You'll find it at: http://www.fool.com/media/DiscountBrokerageCenter/DiscountBrokerageCenter.htm

Regards…..Pixy
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