I currently have all my money in a Traditional IRA (after receiving money after my mom’s death) which is invested in various stocks, mutual funds, etc.. Its been losing money (35%) so far and I’d like to reallocate funds that I feel would do better.
How can I setup a self-directed IRA so I can rollover my money into it?
IRA = Individual Retirement Account
I am just starting out in my career (26 years old). My company does not offer any retirement or 401k plans. I just did my taxes and realized I can get an extra 5 back on my refund if I contribute 00 to a traditional IRA. I have decided I can afford to and should make this size contribution for last year to some sort of IRA. Should I contribute to the ROTH IRA and get the tax benefit when I retire or the traditional IRA and get the benefit now?
