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mbanelson writes (in part):

About three to four years ago I invested in two mutual funds as an IRA. A couple of years ago I opened an additional one for my wife. I have not been impressed whatsoever in their performance to date, however, I realize that the long-term with smooth out these valleys. I would, however, like to take the money I have invested in these mutual funds, seel the funds and invest in my Foolish 4 portfolio. Is this Foolish (good) for me to do? If so, what tax penalties, if any will I incurr?

I reply:

Of course, only you can decide what to do with your money. But the Foolish philosophy holds that individuals can manage their money more effectively than can the professional money managers who run mutual funds. If you decide to make the change, you should be able to do so without any tax penalty at all -- simply choose your brokerage, explain to them that you want to do a custodian-to-custodian transfer, and they'll walk you through the rest. Good luck! --Bob
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