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oogleblaf

Trying to open an IRA -- currently have a brokerage account?

oogleblaf
4 years ago

Hello everybody. I'm new to this site but I'm looking forward to hearing from all of you.
My current account is a standard brokerage account with Fidelity. Nothing special, no leverage or margin credit or anything like that. Now that I have some more money saved in a bank, I am considering opening some sort of tax-deferred investing account aside from my 401k. Can I just convert the account I currently have into an IRA, or do I have to open a brand-new account?
I guess I'm just not clear on the specifics of how IRAs work.

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