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Subject:  Re: First timer trying to rollover in IRA! Date:  6/13/2000  1:13 AM
Author:  skating1girl Number:  22514 of 90133

I rolled over $40,000 of a 401k plan into a self directed IRA at Charles Schwab. It's really simple--I just went to one of their offices and filled out the paperwork; then I directed the administrator of my 401k plan to mail me a check made out to Charles Schwab with my IRA as the beneficiary. I brought them the check and started doing some homework on investing. I now have bought 6 companies,giving me $30,000 in stock and I still have about $15,000 in cash in that IRA. But I was in all cash from January until May---when I was ready to buy, all I had to do was log in to their site one evening and put in an order: it was executed first thing the next morning. So just do it--it's easy--but remember, unless you really want to be hit with a big tax penalty--IRA and 401k $$ can't be touched until the age of 59.5
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