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Another Roth IRA Discussion.
Posted on 8/22/17 at 5:08 am
Posted on 8/22/17 at 5:08 am
Through the years I contributed but it's been a while since my income exceeds $133k.
It's value is $35k. I'm not sure what to do with it. I feel like it's underperforming, stagnant, and it kills me to look at the fees(1.2%).
Background: 40y/o, 401k & other investments are in good shape, no debt.
What do the MT gurus say?
It's value is $35k. I'm not sure what to do with it. I feel like it's underperforming, stagnant, and it kills me to look at the fees(1.2%).
Background: 40y/o, 401k & other investments are in good shape, no debt.
What do the MT gurus say?
Posted on 8/22/17 at 9:35 am to WillieD
Roll over to Vanguard Roth, then choose a low cost index fund. That will save you dough on the fees.
Posted on 8/22/17 at 10:24 am to Tiger1414
Thanks 1414. I'll look into that.
Posted on 8/22/17 at 10:28 am to WillieD
quote:
What do the MT gurus say?
You can still contribute to the ROTH via the backdoor ROTH procedure. Look into it.
Posted on 8/22/17 at 12:40 pm to WillieD
Like others have stated, rollover to Vanguard for low fees. Then look at backdoor contributions going forward.
If you don't mind, I'm curious who has Roth fees that high. That's crazy. Ed Jones?
quote:
I feel like it's underperforming, stagnant, and it kills me to look at the fees(1.2%).
If you don't mind, I'm curious who has Roth fees that high. That's crazy. Ed Jones?
Posted on 8/22/17 at 1:01 pm to Oenophile Brah
1-1.2% is a very competitive fee to work with anyone to manage your money.
If he's doing it on his own or with a robo advisor then that would be a bit high.
If he's doing it on his own or with a robo advisor then that would be a bit high.
Posted on 8/22/17 at 1:24 pm to Shepherd88
I guess I don't see what the 1.2% is supposed to be buying you in a Roth account. It's not a brokerage account so it's mostly just directing money. No loss harvesting or other considerations.
Posted on 8/22/17 at 1:45 pm to WillieD
Where is your Roth managed? You can likely buy Vanguard or Fidelity funds from anywhere, but won't always be a "free trade" scenario.
There are definitely lower cost options in the market (<.10% net)
There are definitely lower cost options in the market (<.10% net)
Posted on 8/22/17 at 1:49 pm to Oenophile Brah
I'm assuming this is a fee based account more than likely. So it's buying you asset allocation, ongoing portfolio management and needed adjustments towards economic cycles and opportunities, emotional guidance (to not sell out when things get tough), and guidance on organization and allocation of outside assets.
If the OP doesn't get that service then he needs to talk to his FA about why he is paying a fee. (Assuming he is working with an FA)
If the OP doesn't get that service then he needs to talk to his FA about why he is paying a fee. (Assuming he is working with an FA)
Posted on 8/22/17 at 6:14 pm to Shepherd88
Possibly so. But for a $35K account, he doesn't need that. When he has ten times that amount, then he may get some value from those services.
Roll it into Vanguard, Schwab, Fidelity, etc., pick three or four funds or ETFs and don't fret over it til he hits his 50's.
Roll it into Vanguard, Schwab, Fidelity, etc., pick three or four funds or ETFs and don't fret over it til he hits his 50's.
Posted on 8/24/17 at 8:29 pm to Jag_Warrior
Good advice from Jag and others. The backdoor Roth is also a good idea especially IF tax reform come to fruition and with it lower rates. Tax rates won't stay lower forever.
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