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Dear Dr. Don,
I'm a 47-year-old female who considers herself an average investor. I have SEP and Roth retirement accounts
with a brokerage firm.
I'm very confused with the terminology of investing. I'm not sure if I'm positioned right for
retirement. I feel like I'm being taken advantage of and need help understanding investments at a very basic
level. Please help.
-- Angie Accumulate
Dear Angie,
There's some very good investor education available for free on Web sites. Bankrate offers several articles on
the subject, including its "Financial
tuneup" Financial Literacy section.
I also like Morningstar.com's
Investing Classroom because it's at a very basic level and the lessons are short and to the point. Morningstar even
awards points for course completions that you can use toward a free 60-day subscription to its premium service.
If you feel you're being taken advantage of, you should have a fee-only financial planner review your
portfolio and investment goals. The National Association of Personal Financial Advisors, or NAPFA, Consumer Information
page provides contact information for fee-only planners.
Bankrate can also help you find a Certified Financial Planner.
You should be able to vote with your feet and move the accounts, if you decide that's what's best for you.
A rollover contribution via a trustee-to-trustee transfer is definitely possible for the Roth IRA account.
It should be for the SEP, too, but I don't know enough about the account or the plan to say that with certainty.
IRS Publication 590, "Individual Retirement
Arrangements," has more information in the section "Can You Move Retirement Plan Assets?" Or, consult your tax professional
for more information.
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