Have stock in IRA; allowed to buy same stock in nonretirement account? (brokers, mutual funds)

[NM posts]

Seems bad that I need to ask this on city data.

I'm really not well versed re. investing, though trying to improve.

I have some shares of a specific stock in a rollover IRA and I'd like more of it. I have a separate nonretirement account with a discount broker and I'd like to buy shares of that same stock in that account. Is that legally allowed?

I'm not near retirement and would like access to that money if it does well.

Thanks!

I need a financial advisor.

[flyonpa]

Yes. you can buy it in your Regular Brokerage account. There is no restrictions.

Just be careful you don't have "To Much" of one stock / industry group over all in your total holdings.

ie: All your eggs in one basket....

[IDtheftV]

Originally Posted by flyonpa

Just be careful you don't have "To Much" of one stock / industry group over all in your total holdings.

ie: All your eggs in one basket....

It depends on their total holdings. I'm guessing NorasMom isn't talking about duplicating a six-figure holding.

If they have $1,000 in the IRA and buy another $1,000 in the taxable account and they have no other stock of any kind, the "eggs" warning isn't of any consequence.

It could be $10k in each account and it wouldn't matter.

If losing all the money means the difference between retiring next year and retiring the year after, then they have a diversification problem.

A good example was someone who had $700k in Enron .... I still remember a guy whining about this on the news ...

[rjm1cc]

You should have no problem. Large mutual funds and on line brokers have a lot of investing help on their site. Take advantage of the programs.

[NM posts]

Thanks all - I wish I had to worry about a large amount of money! I don't. I need to learn more about investing - maybe with a simulation game, and the site help.

[oneslip]

The only difference between an IRA & a traditional account is the tax umbrella that the IRA enjoys. You can put the same investments in each account although once you have more experience investing you will realize that you would want to put certain assets in the IRA to avoid paying higher taxes etc. Read,read read! You'll learn and welcome to the wonderful world of investing.

[wheelsup]

Why are you purchasing the stock? Do you know how to calculate at least a quick off the cuff valuation of what a fair price is?