🔺 r/personalfinanceuStandard-Aerie-3537·24 days ago
Actively managed IRA inherited prior to 10-year rule
Hello, I inherited an IRA from a relative before the 2020 10-year rule came into effect. That means I can take minimum distributions, based on my life expectancy, for the rest of my life (and that's what I prefer to do). My "problem" is this: it's actively managed at an investment firm. My personal investing principle is to not allow other people to manage my money. Plus, it's no fun getting hit with the trading commissions that I pay to the managers of the fund while they make trades for me. For this kind of investment, I would like to distribute the funds myself across a portfolio of bonds and ultra low cost index funds, which I would have access to at a different brokerage where I do my normal personal investing. Can someone please share some perspective on the following options: A) just tell the manager what I want the funds invested in and instruct them not to make any more trades (they are finance managers, so I can't actually do anything with the assets in the fund myself), or B) look into options of porting it to my own IRA at a financial institute of my choosing? I'm not incredibly savvy with tax rules, but it seems like a third option would be stupid, which is C) close th…