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by Lar on July 20th, 2008

Lar

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Help answer this question below.

I have a 401k that I am wanting to roll over into an investment IRA with a investment co. I want to be able to use the money in the IRA to buy and sell stock, and keep the increased funds "Hopefully", sheltered in the IRA. Can this be done?

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Answers. 1 helpful answer below.

  • by superdadbrad on January 27th, 2010

    superdadbrad

    In short, no.
    You can not normally use your IRA money to buy/sell individual stocks. IRA's are not the vehicle to do that. If you want to trade stocks you need a separate online brokerage account.

    help with a 401K rollover:
    http://www.ehow.com/how_5688205_execute-401k-rollover.html
    step-by-step to trading online:
    http://www.ehow.com/how_5289063_buy-sell-stocks-online.html

    IRA's are meant to be a buy & hold investment. You can select the specific type of fund to invest the money in, but there can be fees if you switch within a short period of time.

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