section 703-IRA

By sherlock1, August 27, 2013

This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.

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

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        • James Young
          Jun 29 2015, 02:36:16 pm

          Didn’t anyone who is asking this same question listen to his very long message to basically sell something to you. Someone asked why all the mystery, well its a sales tactic. That’s how he draws you in to ultimately purchase something that may or may not work. If you read the fine print it even expresses that what he is saying isn’t to be construed as “Financial Advice”

    1. Bob
      Oct 31 2013, 12:33:14 pm

      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. Re: Drip and Commission Fees
      Feb 12 2014, 05:53:22 pm

      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.

    3. asdf
      Jun 10 2014, 11:09:18 pm

      Why do they always make things mysterious. I think they do more harm to their rep with these videos than just being straight forward. 703 IRA, whatever.

    4. Rockin Ron
      Jul 11 2015, 12:27:08 pm

      Still don’t know if it WORKS. He’s also teasing the first 3 he’ll give. Was hoping/counting on the Gumshoe to give up the 3 and give us his take on Mr L. n his 703 plan

    5. Franco
      Oct 21 2015, 09:26:07 am

      I wish they would just give the straight information without the bait and switch. it is so snake-oil selling and leaves me miss-trusting Oxford. Makes you wonder what you would actually get for your $79. An invoice!!!! not me.

    6. Marshall Sattler
      Jan 28 2016, 11:28:07 am

      You can buy stock directly from Exxon oil their drip program will even let you start an IRA. you purchase 250.00 dollars to start then deposit as little as 50.00 per deposit , Maybe more now if you don’t have a grand fathered account. The max limit is 250000.00 per year They pay the expenses for the brokerage .

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