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Mutual funds for dummies - Tyson E

Tyson E. Mutual funds for dummies - Wiley publishing , 1998. - 425 p.
ISBN 0-7645-5112-4
Download (direct link): mutualfundsfordummies1998.pdf
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Be sure to review the information on electronic transfers, attach your voided check, and, if necessary, complete the co-owner's information in Section 5C Then fill in the Information below.
Ooilar Amount
□ Payroll Deduction. Chock deduction. Contributions will calendar year In which they
Fill in the information below, and \ to your payroll department.
Fund Name
% of Distribution
î nn%
By signing this form, I certify that:
■ 1 luve received, read, and agree to the terms of the prospectus for each fund in which I am investing. 1 have the authority and legal capacity to purchase mutual fund shares and establish this custodial IRA. am of legal age in my state, and believe each investment is a suitable one for me.
■ 1 received, read, and agree to the T. Rowe Price IRA Disclosure Statement and Custodial Agreement for the type of IRA (traditional or Roth) 1 have selected In Section 4 at least seven days prior to the date that 1 signed this application.
■ VauthofizeT; Rowe Price. Funds. Ihctr affiliated, and'thetf'ageh’is tn act fih any instructions believed to be genuine for any service authorized on this form. The Funds use reasonable procedures (including shareholder identity verification) to confirm that Instructions given by telephone/computer are genuine and are not liable for acting on these instructions. (However, if these procedures are not followed, it is the opinion of certain regulatory agencies that the Funds may be liable for any losses that may result
SXSff ^ Sm,“S 2re ,0 condiUons
phone or in writing and T. Rowe Price has had sufficient time to act on it.
Any resident of a community property state (AZ, CA. 1 WA. or Wl) who b married should obtain Ms or her sj
This selection may be changed ai
Source: T. Rowe Price
Chapter 11: Application, Transfer, and Other Neat Forms 281
Establishing retirement accounts when you're pressed for time
Okay, so you procrastinate — you're human. Perhaps it's April 14th or 15th and you want to establish an IRA, but you need to do it, like, now. You don't have time to call a toll-free number, wait for days to get the application in the mail, and then wait even more days until the fund company receives your check. All is not lost; here are several proven ways out of your pickle:
i* Visit a branch office. Companies such as Fidelity and Schwab have numerous branch offices. Call them to find the location of the one nearest you. You may also be near other companies' main offices. Check the Appendix of this book for phone numbers and addresses.
Believe it or not, some branch offices are kept open late on tax day. Fidelity, for example, keeps some of its branches open until midnight.
Use an express mail service. Although nul a low-cost option, if you have a couple of days and a chunk of money at stake, Federal Express or some other overnight express mail service may be worth the cost and save you the time of going to a branch
v0 Go to your local bank. Establish your retirement account in a savings or money market type of account at the bank. Latei, when the dust has settled and you have breathing room, call your favorite fund company for its application and transfer forms to move the money.
Bank employees will more than likely try to talk you into a CD or one of the mutual funds that they sell. Skip the CD, because you're looking for a very short-term parking place for your retirement contribution. Bank mutual funds tend to be commission-based (load) funds and are not among the best choices.
v0 File for a tax extension. If you're opening a non-IRA retirement account, such as a SEP-IRA or a Keogh, consider buying yourself more time by filing for an extension. Although you must still pay any outstanding tax owed by the April 15th deadline, filing for an extension by using IRS Form 4868 gets you four more months to file your Form 1040 and establish and fund your retirement accounts. [Note: This extension does not apply to normal IRAs; April 15th is the absolute deadline.) Come the middle of August and you're still disorganized or otherwise not ready to get the job done, you can file for one last extension (Form 2688) for yet another two months. October 15th, then, is your final deadline for making your contribution.
If you're self-employed, be aware that you need to file the paperwork for a Keogh retirement account by December 31st — there are no extensions (although, as with other retirement accounts, you do have until the time you file your tax forms to fund the Keogh). You can use the strategies I discuss in this sidebar to get the job done by year end.
282 Part II: Establishing a Great Fund Portfolio
You can tell which account type you currently have by looking at a recent account statement; the account type is given near the top of the form or in the section with your name and address. If you can’t figure it out on a cryptic statement, call the firm that currently holds the account and ask a representative which type of account you have (just be sure to have your account number handy when you call).
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