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Thread: alevin's Account

  1. #21

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    Mar 2009
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    Default Re: alevin's Account

    Quote Originally Posted by alevin View Post
    Learned something else about account management this am, wasn't able to do what I thought I'd be able to do...which was link my taxable to my Roth so I could transfer funds into my Roth a little more quickly, like we do with TSP between funds. Doesn't work that way, unfortunately. what the brokerage means by linkage isn't what I wanted it to mean. Bummer. They only mean that I can manage within each account from the other account, but I can't move funds back and forth between accounts.
    What firm holds your funds. When I opened my Scottrade acct, I was able to use their money direct feature to transfer funds. Was done in one day. Real easy.

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  3. #22
    alevin Guest
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    Default Re: alevin's Account

    I'm using Options Xpress for the time being. they require all account setup paperwork to happen by snailmail, including setting up for electronic connection to bank account for funds transfers. Different sets of paperwork, different addresses to send paperwork.

    I'm fully set up for e-transfers in the taxable account, it got set up first, I wanted to do some learning there so I wouldn't waste $ in Roth account in my learning curve about ETFs and stocks. Easier to replenish funds in taxable account than Roth, the way I was looking at it. Thing is, once I got some of the trading lumps and bumps evened out on the learning curve, I was going to split the funds in the taxable account and move half of them into the Roth account for 08.

    I had to open the Roth account snailmail with a check to get it going, which just got done last week, so my move this week was to move the rest of the intended funds over from the taxable account. Oh well.

    I am getting ready to send in the snailmail paperwork to have electronic funds transfer from bank account to Roth, but I don't have spare cash available at the moment to send from the bank account-all I had really to work with right now was the $ in the taxable account that's already there. I'll have more bank account funds later on for Roth 09, but I've lost the window for getting $ into Roth08. Live and learn. My bad for moving too slowly and only now figuring out more of the process lumps and bumps when it's too late for last tax year.

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  5. #23

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    Default Re: alevin's Account

    Quote Originally Posted by alevin View Post
    I'm using Options Xpress for the time being. they require all account setup paperwork to happen by snailmail, including setting up for electronic connection to bank account for funds transfers. Different sets of paperwork, different addresses to send paperwork.

    I'm fully set up for e-transfers in the taxable account, it got set up first, I wanted to do some learning there so I wouldn't waste $ in Roth account in my learning curve about ETFs and stocks. Easier to replenish funds in taxable account than Roth, the way I was looking at it. Thing is, once I got some of the trading lumps and bumps evened out on the learning curve, I was going to split the funds in the taxable account and move half of them into the Roth account for 08.

    I had to open the Roth account snailmail with a check to get it going, which just got done last week, so my move this week was to move the rest of the intended funds over from the taxable account. Oh well.

    I am getting ready to send in the snailmail paperwork to have electronic funds transfer from bank account to Roth, but I don't have spare cash available at the moment to send from the bank account-all I had really to work with right now was the $ in the taxable account that's already there. I'll have more bank account funds later on for Roth 09, but I've lost the window for getting $ into Roth08. Live and learn. My bad for moving too slowly and only now figuring out more of the process lumps and bumps when it's too late for last tax year.
    Maybe you could contact them (options x)and ask if they could do the transfer between your accounts with them. Do they have good customer service? Seems to me they should have that capacity. Hate to see you lose an opportunity for 2008 -- not trying to stick my 2 cents in your business. Never hurts to ask the question.
    Debbie

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  7. #24
    alevin Guest
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    Quote Originally Posted by wv-girl View Post
    Maybe you could contact them (options x)and ask if they could do the transfer between your accounts with them. Do they have good customer service? Seems to me they should have that capacity. -- not trying to stick my 2 cents in your business. Never hurts to ask the question. Debbie
    Thanks for the suggestion, Debbie, I appreciate it, a lot. You're right, it doesn't hurt to at least try. I get frustrated at hitting roadblocks and give up all too easy sometimes. One of the biggest reasons I went with OptX was for their customer service, but they do seem to be sticklers for rules-which is also a really good thing, given all the fraud in the system these days everywhere we look. If they tell me it's not possible to do what I was hoping to do, I'll accept that and go down quietly and reset my attitude for better going with 09 funds. But I'll at least ask the question. thanks again for the suggestion, I wouldn't have gotten there on my own. Not today anyway.

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  9. #25
    alevin Guest
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    Well, I called this morning and asked the question. turns out it can be done-with an email request. Yay! the email has been sent. And the tree trimmers are back this morning and finishing the job. Another YAY!
    A good day so far, I won't let market action spoil it.

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  11. #26

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    Default Re: alevin's Account

    Quote Originally Posted by alevin View Post
    Well, I called this morning and asked the question. turns out it can be done-with an email request. Yay! the email has been sent. And the tree trimmers are back this morning and finishing the job. Another YAY!
    A good day so far, I won't let market action spoil it.
    YAY! Glad to see that your planning is going your way. Now if this market would just start to make some sense.... Right now it just looks to me like the big boys are robbing more of the little peoples money with false hopes and manipulations. Still watching.

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  13. #27

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    Default Re: alevin's Account

    Quote Originally Posted by wv-girl View Post
    YAY! Glad to see that your planning is going your way. Now if this market would just start to make some sense.... Right now it just looks to me like the big boys are robbing more of the little peoples money with false hopes and manipulations. Still watching.
    Allie, I'll add my congratulations to WV's. It's great that you were able to make it work after all. And I agree with the 'big boys' observation. This looks like options expiration week manipulation with a vengeance.

    Lady
    If you think education is expensive, try ignorance. - Derek Bok


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  15. #28
    alevin Guest
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    Default Re: alevin's Account

    thanks for the moral support, you two. It helped. And I agree, the boyz have been hard at work. Feel like GLD and DBC are going down-watching commodity developments various web commentaries, now that I've cleaned the cash out of the taxable account, I'll have to raise new cash by selling something, not sure what tho, so watching and waiting to decide. all cash in the Roth account at the moment. that's where I'll be stashing dividend stocks and foreign flavors-for tax reasons. Trying to stay with cap gains stocks/ETFs in taxable account-now if I can just keep that game plan straight in my head over time...

    Next move in the Roth account will be to move mutual fund Roth $ out of mfunds into brokerage account and start managing those funds myself, couldn't do worse than that particular mutual fund family has over the past several years-not just talkin since 07 either-try 02.

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  17. #29
    alevin Guest
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    One last note on the funds transfer. It's a good thing I came home at noon today to pick up a couple items I needed after work that I'd forgotten to bring in the morning. I checked email re the transfer and saw where they said they couldn't do it due to unsettled funds from me selling IBB yesterday. I still had a partial wad of cash sitting on sidelines other than the unsettled funds-but I'd tried to include the new cash in the transfer as well, which gummed up the whole works.

    I thought you just couldn't buy new stocks with that cash during the settlement period, didn't realize couldn't even transfer it to another account same brokerage, same account holder!

    I sent them back another email saying I had cash in the taxable account that weren't part of the unsettled situation, and to please transfer that amount anyway. Came home this pm to a message saying it did get done, so my 08 Roth account did get pumped up today, just not as much as I'd hoped it would. I could have sent a check postmarked today for the full desired amount, they told me, but as I said earlier, don't have it in the bank account right now, needed it to get drawn from the taxable account to extent they let me. Like I said, they come across as playing by the rules, which I appreciate totally even if the rules are sometimes aggravatin'.

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  19. #30

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    Feb 2009
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    Default Re: alevin's Account

    Hi Allie, just a quick visit to your home to mention that I really love your signature on our sister site. "Seek the truth...Ignorance is the cause of fear." With ETFs as with life, you've truly gone right to the core with that one!

    Lady
    If you think education is expensive, try ignorance. - Derek Bok

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