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Capital One Bank IRA
Posted on 6/14/16 at 3:10 pm
Posted on 6/14/16 at 3:10 pm
I bank with Capital One. I have an old 401k i want to roll over into an IRA. They have a good fund averaging about 6-7% return that they suggested to me. I pay 5% fee upfront of whatever amount i rollover, then 5% of every contribution i make up a certain amount, then it decreases .5% with every 100k after that until there is no fee. Is this normal? i don't know crap about investing. It's easily the most "adult" thing i do and know the least amount about.
5
Posted on 6/14/16 at 3:15 pm to FishinTygah84
Is the fee capped? How much money you talking about here? 5% is a big chunk, would be better to just put it into a Vanguard fund that has low fees.
Posted on 6/14/16 at 3:15 pm to FishinTygah84
Oh geez, in before Vanguard
Posted on 6/14/16 at 3:20 pm to FishinTygah84
Yes it is capped. It will never go higher than 5%. It's only about 30k. Then I'm throwing another 400 or so a month into it. So 380 each month when it's all said and done.
Posted on 6/14/16 at 3:20 pm to FishinTygah84
As a place to stash cash, their online savings account is a decent deal. That is not. Just say, "no thanks."
Posted on 6/14/16 at 9:36 pm to FishinTygah84
That fee structure is normal for purchasing mutual funds with a brick and mortar bank like Capital One.
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