Skip to main content
No. of Recommendations: 0
On Tue, 29 Apr 97 08:02:44 -0600, TimB wrote:
<<I will be able to rollover a 401k from a previous employer very soon (actually, now). I would like to take a portion of it and use the Foolish 4 strategy. How do I do that?

I would prefer to not use a full service broker and pay the commissions since I will be starting with 5-10k into the F4.

How will I show that the stock investment is still an IRA?


Choose your discount broker and contact them. I dealt with Schwab and they handled everything. There are numerous forms you have to fill out to roll the investment over, but your new broker should have all of them. It can get a little tedious depending on what the money is currently invested in. There may be back-end loads on mutual funds or other termination charges, but as far as moving the account, it's pretty easy. The new account will be called a Rollover IRA. This means if you wanted to roll it into another employer's IRA later you could. A regular, or contributory IRA you cannot.

If you look back at much earlier posts on this board, you probably can find a better answer than this one. Also check out the Discount Broker folder for tips on choosing a broker. I like Schwab a lot, but it is a "shallow" discounter, 29.95/trade while some are like $10/trade.

Best of luck, Todd Starker
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.