[net.taxes] self directed IRAs at Kidder Peabody

logo (03/08/83)

The stock brokerage house Kidder-Peabody and Co. offers both a self directed
IRA and a self directed KEOGH.  The fees are something like $25 start-up,
$25 per year, and normal brokerage fees on your transactions.  This info
is courtesy of Gina Harvey at the San Diego office.  (She is my broker and
I have been quite pleased with her performance and advice.)  I have not
yet recieved the paperwork, and if any of this info is way off I will post
a correction.

In a self directed (IRA|KEOGH) account you may choose your own investments
(i.e. manage your money yourself).  In most other types of (IRA|KEOGH) 
(mutual funds, certificates of deposit, annuities) you have relatively
little control.  Of course, you trade expert management for that control.

My plan is to play around and gather some financial experience using money
that I won't be able to touch for ~35 years.  If I loose it all within
the first few years the impact will not be drastic.  Five years down the
road, I will get more conservative in my management and switch to long
term bonds or mutual funds or whatever.

  David (Reisner)
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