Broker Recommendation for an IRA account

[riverbabe]

I'm still not sure my original question has been answered. Must an IRA, either Roth or regular IRA, be set up and held in a brokerage's name or acct. Haven't heard much from you here lately River. Are you hiding out! Hope you are ok and being a good girl.

Answer: the acc't is set up in your own name -- e.g., I have an IRA acc't and an SEP acc't at my brokerage, both in my name. (I am always good!)

[hags]

I'm still not sure my original question has been answered. Must an IRA, either Roth or regular IRA, be set up and held in a brokerage's name or acct. Haven't heard much from you here lately River. Are you hiding out! Hope you are ok and being a good girl.

You're not allowed to hold your own funds and call it an IRA...the government requires a financial trustee to administer the IRA and report contributions, withdrawals, etc.....the government doesn't allow the IRA owner the responsibility of those tasks...or trust that every and all IRA owners would comply....you’re not even allowed to intercede in a rollover of an IRA…the funds are sent direct to the new trustee and never cross your mailbox….less they do it’s actually taxable and fineable, depending on what type of IRA you have…..
Never mentioned in the prospectus, but The Powers That Be find it much easier to monitor/manipulate when the sheeple don't hold the controls.....but I never said that....

hags

[riverbabe]

You're not allowed to hold your own funds and call it an IRA...the government requires a financial trustee to administer the IRA and report contributions, withdrawals, etc.....the government doesn't allow the IRA owner the responsibility of those tasks...or trust that every and all IRA owners would comply....you’re not even allowed to intercede in a rollover of an IRA…the funds are sent direct to the new trustee and never cross your mailbox….less they do it’s actually taxable and fineable, depending on what type of IRA you have…..
Never mentioned in the prospectus, but The Powers That Be find it much easier to monitor/manipulate when the sheeple don't hold the controls.....but I never said that....

hags

True. But I still feel in control.