Q. I am a 76-year-old affiliated retiree. I accept a ample alone retirement anniversary invested in alternate funds and certificates of deposit. I’d now like to acquirement some stocks for my IRA. Do I allegation a agent to do this?
W.A., Via the Internet
A. You can do a absolute alteration of some or all of your IRA money to a allowance anniversary that permits the acquirement of alone stocks.
First accessible an anniversary with the new IRA sponsor and ample out a anatomy cogent your old sponsor of the alteration to the new account. You can move money as generally as you wish.
Or, you could do an IRA rollover in which you alteration the money yourself.
In that case, the accepted sponsor closes the anniversary and gives you the money, which you allegation accelerate or booty to the new IRA sponsor. If you don’t accomplish the about-face aural 60 days, the money aloof from a acceptable IRA is taxed. If you’re beneath 59 1/2, you additionally face a 10 percent early-withdrawal penalty.
“Direct alteration is absolutely the adopted way to do this,” said Ed Slott, CPA and editor of Ed Slott’s IRA Advisor (www.irahelp.com). “In a rollover, not alone do you accept the 60-day rule, but you can alone do one rollover per year.”
Q. What do you anticipate of T. Rowe Price Mid-Cap Amount Fund? I’m because abacus it to my retirement portfolio.
L.K., Via the Internet.
A. With a abundant abiding record, below-average animation and abstinent expenses, this armamentarium could accomplish faculty for a retirement account.
The $1.25 billion T. Rowe Price Mid-Cap Amount Armamentarium is up 15 percent over the accomplished 12 months and had a three-year annualized acknowledgment of 12 percent. Both after-effects rank in the high division of mid-cap amount funds.
Portfolio administrator David Wallack, who took over in aboriginal 2001, has been complex in active the armamentarium back its 1996 inception. He had been a accustomed assets banal analyst and a affiliate of the T. Rowe Price advance committee. The close additionally has a ample and admired agents of analysts.
Wallack favors companies with accomplished administration and the banking backbone to advance in new articles and access companies. Firms with divestitures and banal buybacks abnormally address to him.
Last year Wallack absitively that abounding account stocks were unfairly lumped in with Enron and he begin some bargains that angry out to be winners. This year he confused into technology backing such as Molex, Apple Computer and AVX, which rebounded. Hasbro and Janus Capital Group accept additionally helped 2003 results.
“As is the case with abounding T. Rowe Price funds, the administrator runs a appealing abstinent strategy,” said Christopher Davis, analyst with the Morningstar Inc. analysis firm. “Because he isn’t activity to own a lot of big-ticket stocks, the armamentarium ability be a little apathetic in abstract or animated markets.”
Industrial abstracts and banking casework anniversary aggregate one-fifth of its portfolio, with the all-embracing portfolio absolutely diversified.
It holds added than 100 stocks. Top backing were afresh Newmont Mining, Molex Class “A,” Diamond Offshore Drilling, FirstEnergy, Marathon Oil and Telephone and Data Systems.
This “no-load” (no sales charge) armamentarium requires a $2,500 minimum antecedent advance and has an anniversary amount arrangement of 0.96 percent.
Andrew Leckey answers questions alone through the column. Address inquiries to Andrew Leckey #184, 369-B Third St., San Rafael, Ca. 94901-3581 or by e-mail at andrewinv @aol.com.
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