Best Broker to Goto

L1: Best Broker to GotoThis site is the best thing on the Net. I discovered it a month or so ago when I was researching ways to get my 401K money early.I have a couple of questions (BTW – the seach function does not seem to work, I am using Firefox).a. What is the best/most popular choice on where to move my 401K to rollover to an IRA to fund my 72T? Should I move it to a fund company based broker e.g. Vanguard or Fidelity or should I move it to someone who sells other peoples stuff (more independant) e.g. Schwab? Any opinions either way?b. Is there any broker who will support the annual recalc method based on the info from this site? I called Schwab and they do not do this nor would they acknowledge that it could be done.c. When creating your distribution for the year do you liquidate some cash by selling the mutual funds or will the broker automatically do this? For example say in your IRA you have 5 funds and in January you do your disbursement of $X, how is this done? 2007-02-16 10:02, By: Paul, IP: [74.249.205.177]
L2: Best Broker to GotoHello Paul:
In my opinion, you should select a broker that meets your personal investing needs in terms of products, information, execution, etc. irrespective of the fact that you may launch a SEPP plan.
Regarding your SEPP plan, I would advise that you keep it 100% under your personal and manual control; e.g. you do the annual recalculations if required, you liquidate securities in the account to create the cash for distributions, etc. Relying on a broker/trustee for these functions is to invite disaster.
TheBadger
wjstecker@wispertel.net
2007-02-16 10:17, By: TheBadger, IP: [72.42.66.13]

L2: Best Broker to Goto
Hello:
As to the “C” portion of your question, I have a method that works real well for me and which may work for you as well. I have several stock and bond funds in my 401k -> IRA rollover account plus a money market fund. I am taking quarterly SEPP payments from this IRA. All dividends, year end distributions, and interest are funneled into the MM fund. My SEPP payments come from the MM fund. I have a fairly aggresive investment philosophy that is about 70% in stock funds, 20% in bond funds, and 10% in the MM fund. This aggressive stance is moderated a bit by having a well diversified portfolio that emphasises the value investing approach. Since I started taking SEPP payments in early 2005, I have not needed to sell any of my funds to raise cash for the payments. My account balance has increased by about $66k in spite of taking a similar amount out for retirement living expenses. Since I am keeping about 10% of my account in cash and this amount is sufficient for about 18 months of SEPP payments, I do not have to be overly concerned about selling shares at a loss duringa recession. So far, though, so good, though, with myannual returns coming in at roughly double my annual SEPP withdrawal. Note that this is not my only source of retirement income, so I would be more cautious with my investing style if it was.
Regards,
Ed

2007-02-17 16:22, By: Ed, IP: [67.170.159.37]

L2: Best Broker to GotoI live in the Lexington, KY area and am having difficulty finding a financial advisor or an investment firm that knows anything about the 72T IRA. Any recommendations?2007-02-20 14:45, By: Carol, IP: [76.177.97.251]

L2: Best Broker to GotoHello Carol:
If you can not find anyone locally and are willing to work long-distance; drop me a note.
TheBadger
wjstecker@wispertel.net
2007-02-20 15:06, By: TheBadger, IP: [72.42.66.16]