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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Don Lloyd who wrote (83853)	3/22/2001 12:15:42 AM
From: chic_hearne	Respond to of 436258

Also, the combination of the two types of IRAs represents a type of diversification against unpredictable tax law changes which might affect one or the other type more or less. Thanks Don, I guess I was seeing it right. I actually knew I was right, but sometimes felt like I was missing something. I'd hear the industry pimping about how it was such a good idea to roll over and it never made sense to me. I've had this conversation dozens of times with people and always left them dumbfounded. I've found this is a pretty typical response anytime I try to discuss anything math related with people. I'm the type of guy that got a D in English and an A in Calculus without ever opening a text book or doing homework. I've always been stunned at the lack of math comprehension amongst the general population. In college I tried to tutor Algebra but the math dep wouldn't let me because they said I would get too frustrated with people. Not that there's anything wrong with this, apparently I have my own deficiency and don't understand the "arts". So be it. I'd rather be able to comprehend numbers than be able to do proper grammer, but that's just my opinion. I'm doing both. The max on Roth and the max on the traditional. My Roth is through Wall Street Access and I can trade options, etc. In my traditional I have my choice between about 10 mufu's and IBM stock. At first, this really pissed me off because I felt like I had very little options for where I wanted to direct my money and no chances of big returns. After what we've went through on in the market the last year, I've changed my tune a bit. Many traditionals are moving to a system that allows investors much more flexibility. For someone like me that spends 100 hours a week on the market and knows what he's doing (at least now -g) it's a great thing, but I have to think we are maybe 1% of investors at best. For the vast majority of people, a few mutual funds are best because it prevents them from exercising their own stupidity. For example, mom finally agreed to let dad take 5% of his retirement account and direct it himself. He's down about 80% on that 100K in the last 6 months. I'm kind of glad it worked this way because mom is conservative and there's no way in hell dad will get to do this again and it was a small price to pay in the scheme of things (women never forget this kind of stuff you know -g). There must be a ton of Clowns that have blown damn near everything over the past year that are about to retire. In a sense, I wish directing your IRA wasn't even an option even if you were qualified. If you're that damn good, don't contribute and don't complain the system is screwing you, just pay your own taxes each year. In the aftermath, I wouldn't be surprised if this is what actually happens. JMHO chic