How do you exchange mutual funds under your Roth IRA.... I want to switch funds but it is below $3,000 right now.... I have to wait until it is over $3,000? Why can't I just exchange for what it is worth and add more to make the new fund $3,000?
2007-03-14 11:50:26 · 2 answers · asked by Anonymous in Business & Finance ➔ Investing
Which funds? And who said you have to wait until the account is over $3,000. Most funds that have a taxable account minimum of $3,000 have a ROTH IRA minimum of $1,000. If you still meet the requirements (have earned income but not make too much, etc) to invest in a ROTH, there is no reason not to be able to add money to your account.
To exchange funds, if it is in the same family, just tell them you want to switch. If in a new family, tell the new family you want to exchange, they will send you a form and handle it for you.
2007-03-14 12:32:59 · answer #1 · answered by gosh137 6 · 0⤊ 0⤋
Need to know with whom you are working-what company. or Third party. Look at setting up an account at T ROW PRICE. As long as you keep the money in for time they will work with you. I was a long time user. Do not get labeled a trader!!!!!!!!!!!!
2007-03-14 19:16:14 · answer #2 · answered by RayM 4 · 0⤊ 0⤋