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    catonsville's Avatar
    catonsville Posts: 894, Reputation: 91
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    #1

    May 6, 2014, 05:20 PM
    IRA Cash Can I Move it?
    I have some cash IRA money being held by the Stock Account and it pays a paultry .01 percent. Could put it under my mattress and not lose very much.
    Is there any place I can move out and into something that will pay more and
    Still be protected by IRA rules?
    smoothy's Avatar
    smoothy Posts: 25,495, Reputation: 2853
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    #2

    May 6, 2014, 05:27 PM
    THere are different types of IRA's... they have different rules... Which type is this?
    catonsville's Avatar
    catonsville Posts: 894, Reputation: 91
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    #3

    May 6, 2014, 10:05 PM
    Quote Originally Posted by smoothy View Post
    THere are different types of IRA's... they have different rules... Which type is this?
    It is a "Rollover IRA" with MRD's and taxable.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #4

    May 7, 2014, 05:49 AM
    Your IRA assets must be held separate from other "regular" investments in an account that is established specifially as an IRA. Putting cash under your mattress does not qualify! I suggest that you look for an alternate investment other than cash. Given that you already have a stock account, so you may want to consider a corporate or government bond fund so you have some diversity in your investments. Depending on what institution you have chosen to invest with they probably have multiple investment options to choose from, and if not you can always roll your account to another institition that does.

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