Account Fees

From: "Peter & Karen Diamond" <diamond@vsi.net>
Subject: Account Fees
Date: Mon, 2 Nov 1998 20:12:21 -0500

Next Article (by Subject): Quicken question Ken Stone
Articles sorted by: [Date] [Author] [Subject]

Hello everyone,
If my mutual fund company takes their annual IRA maintenance fee out of my
account, (instead of me paying it with a separate check) does that reduce
the amount I can contribute?
For example:  Say I've sent them $1000 so far this year for my IRA
contribution.  If they take the $10 fee out now, can I send them $1010 more
(since my contribution is reduced to $990), or only $1000 more?
If it is only $1000, they are in effect reducing my allowable contribution
and denying me the additional time value of the fee amount.
Thanks for any info.

Peter Diamond


- -

Next Article (by Subject): Quicken question Ken Stone
Articles sorted by: [Date] [Author] [Subject]

Go to Jeff Salisbury LWGate Home Page.