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I've read/studied the 13 steps, I've gone over the Foolish portfolios, researched discount brokers, and generally spent way too much time on the Motley Fool web page when I should have been working, and now I'm ready to get Foolish.
I've got $10,000 in a traditional IRA in a mutual fund that's not performing, $ 1,500 in a Simple IRA in the same fund (I'm self-employed), and $ 4,000 in the same Simple IRA(both contributions from this year) in a different fund I'm happy with. I've filled out my application for a discount broker I like, and I'd like to convert the $ 10,000 in the traditional and $ 1,500 in the Simple to the Foolish Four.
Should I sell the mutual fund and transfer the cash to the discount broker? Or transfer the fund and have them convert it? Can I split up my Simple IRA contributions for one year, or am I going to have to give all of that to my new broker? Does it matter?
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