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<<<I'd like to transfer the money in my existing Roth IRA, which is a bad mutual fund, and open a Roth IRA within my discount brokerage and actively manage it. Can I do this without penalty?>>

< You bet. The easiest way is to open a new self-directed Roth with a discount broker & then fill out the form which your new IRA custodian provides to transfer your money from your old account. It'll all happen without you ever needing to contact your existing IRA custodian. As long as it's a direct custodian to custodian transfer, there are no axes/penalties of any kind (except for any minor administrative fees which your old custodian may levy to liquidate the mutual fund IRA).>


Piraino,

Be careful because some mutual funds are back-end loaded, and there may be a sales-charge is you sell them.

GP

PS, if you want a great mutual fund recommendation, drop me a line.
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