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section 703-IRA

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touted by marc lichtenfeld of the oxford club as a retirement tool to increase retirement income–any thoughts/=?

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7 Responses to section 703-IRA

  1. Has to do with DRIP (dividend reinvestment plans ) There are companies that will let you direct purchase shares (thus, no commission) and they reinvest all dividends (buying additional shares with dividends ) Actually , great idea to get kids into investing etc . Great to do if you only have a minimal amount to invest . Any brokerage will let you do this with your current shares ( at least TD Ameritrade will ) but it won’t be commission free .

  2. Scottrade will allow you to pool your money and buy DRIP shares in stocks that you own at ZERO fees. You are not limited the way you are at TD-Ameritrade. Meaning at Ameritrade you can only invest your drip fund back (unless they have changed) into the same companies. At Scottrade you can Invest Your Drip funds from one company to another.

    Example: If you own JE, EROC and ARR or whatever, you can have the funds from two of them buy more shares of one company. You can play with the drip in a way that works best for you, and there are no fees.

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