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Using a Retirement Account to Buy 100 Shares of Carnival Stock


luvtosave
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Our shares are in our 401 Retirement acct. few years ago we just called our broker and asked him to purchase 100 shares, we had a little fee but he then purchased us another 100 shares when the Concordia incident happened, it pays a dividend and if you are in it for the long term the flucuations in the market don' affect you too much, after all they always say deversify, so it is just part of the portfolio. Hope it works out for you , it is a nice Princess perk to have.

Cori

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i talked to the man who runs this locations office for my

IRA investments. He said No, I do not have that option with this company. And its name is known worldwide

 

See comments by others. We are all interested in what kind of account you have that won't allow you to buy CCL. :confused:

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I used my IRA to buy shares in both RCI and CCL back in early 2009 when the stock market was crashing so I got them both at a bargain price. Then I tried to apply for the benefit on RCI and found out it is not combinable so it was adios RCI. Princess lets us combine the OBC benefits and I am happy. I kept the RCI stock because it now is worth 5x what I paid for it while the CCL stock is worth 2x what I paid. Back when I had a 401K, I was not able to buy individual stock due to the agreement my company had with Fidelity. Luckily I also had an IRA and problem was solved. Today since I no longer work for that company, all my funds are in a single IRA. One more reason among others why we have concentrated on Princess cruises.

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If you are going to put it in a retirement acct. Be careful of the following:

No problem if you sell something or have cash already in the account to use. Don't just pay for it and put in retirement(Ira, Roth etc). You have to make sure you don't exceed the limit that you are allowed to put in annually in those accounts.

We have control of all our accounts. However years ago when I had 401K with employer (through Fidelity), there were only about 5 choices of funds you could put your money in, and I chose which of these or all I wanted to use.No stocks could be purchased.

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It's with AXA. It's an IRA, not a 401k.

 

I'm not recommending you transfer your accounts to another broker but you might wish to look around and see what your options are. I'm thinking AXA is more of an insurance company than a brokerage. Whether AXA meets your requirements and you choose to stay with them is a most personal decision.

 

That said, there are options.

 

Option One: You can tell your representative that you do wish to purchase CCL in your IRA and ask him how to do that. You can make it clear that either he figures out a way or you will go to option two. I wouldn't get into a big discussion with the representative. It's your money. Perhaps he can establish a different account for you to hold this stock and you would only have to transfer enough funds to make the purchase.

 

Option Two: Establish an IRA with a brokerage house like Schwab, or Fidelity, or E Trade, etc. You can do that with a minimal amount of money. Then tell AXA to transfer a sufficient amount from your account with them to the new brokerage IRA. Then, buy the 100 shares. You may or may not wish to re-invest your dividends with CCL. You will have to transfer enough funds to make the purchase considering the price may go up while your doing this and enough to pay the brokerage commission.

 

Option Three: Move all your funds.

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I'm not upset that AXA can't, couldn't or wouldn't allow me to invest part of my IRA in CCL. He just said AXA doesn't do it.

 

I could just buy the share through a brokerage company. You know, a regular purchase. We travel several times a year with Princess. I just haven't taken the time to make the purchase.

 

Thanks for everyone's input.

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I'm not upset that AXA can't, couldn't or wouldn't allow me to invest part of my IRA in CCL. He just said AXA doesn't do it.

 

I could just buy the share through a brokerage company. You know, a regular purchase. We travel several times a year with Princess. I just haven't taken the time to make the purchase.

 

Thanks for everyone's input.

If you are cruising several times a year on Princess, it is certainly worth it for you to make the purchase either in an IRA or a regular account.

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AXA is an insurance company so I am guessing that maybe the OP's account is held in an annuity. If that is the case, there could be penalties for transferring funds out of the account. Would be better to just open a new account with a discount brokerage firm and purchase the shares.

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I'm not upset that AXA can't, couldn't or wouldn't allow me to invest part of my IRA in CCL. He just said AXA doesn't do it.

 

I could just buy the share through a brokerage company. You know, a regular purchase. We travel several times a year with Princess. I just haven't taken the time to make the purchase.

 

Thanks for everyone's input.

 

What confuses me is why would you want all your money with a firm that has limitations?

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What confuses me is why would you want all your money with a firm that has limitations?

 

Often it is not a matter of choice.

 

If the AXA account is the employer's retirement provider, the individual has no choice as to who is keeping his IRA.

 

If it is a typical IRA, the poster may be able to, after retirement, roll it to something other than AXA, but if it is an annuity arrangement it may be difficult if not impossible.

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I've worked for one of the better known Wall Street firms for 25 years. I can't make specific recommendations online, so I won't do that.

 

I own most or all of the publically traded cruise line stocks and I believe some are in my IRA and others are in my non-IRAs (trust).

 

Many of my clients are in a fee-based account, where they pay a fee based on total assets but not commissions on individual trades. So that can work out conveniently, as I can add or remove individual securities without commission considerations (athough again, they do pay for their overall asset allocation and ongoing updates, rebalancing and such).

 

But bottom line, I have it in multiple accounts as do some of my clients.

 

Disclaimer: This is not a recommendation for or against CCL or any other security(ies) nor is an offer to buy or sell securities or a solicitation.

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I wouldn't try to buy Carnival stock through an IRA. Just buy it through any financial consultant (Merrill Lynch, Ameriprise, Edward Jones, etc.) or through the Carnival website. Much easier, IMHO.

 

Took me all of 30 seconds to buy mine online in my IRA with Fidelity.

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Often it is not a matter of choice.

 

If the AXA account is the employer's retirement provider, the individual has no choice as to who is keeping his IRA.

 

If it is a typical IRA, the poster may be able to, after retirement, roll it to something other than AXA, but if it is an annuity arrangement it may be difficult if not impossible.

 

My DH, who worked at the home office of an insurance company for (too) many years, said pretty much the same thing. It depends on how things are set up by the company.

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I wouldn't try to buy Carnival stock through an IRA. Just buy it through any financial consultant (Merrill Lynch, Ameriprise, Edward Jones, etc.) or through the Carnival website. Much easier, IMHO.

 

Why would you avoid trying to buy through an IRA?

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