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Moving retirement money from a managed account back to me managing it.
Posted on 7/26/23 at 7:06 pm
Posted on 7/26/23 at 7:06 pm
What is best way to do something like that, should I open an account at a local brokerage type place and just have it transferred over? And when I do I will be able to sell and move it all into the type of fund that basically tracks the s&p 500? I know a lot of people say that is best bet and I can do something like that myself I think. Would save me about $5,000 a year at my current investment amount.
Also my bank has investing options so could possibly just move it there and would eliminate need to open account at a Charles Schwab type place. TIA for any help.
Also my bank has investing options so could possibly just move it there and would eliminate need to open account at a Charles Schwab type place. TIA for any help.
6
Posted on 7/26/23 at 7:18 pm to GravelLotinCanada
I had three retirement accounts spread across EJ Jones, Schwab and Fidelity. I close Ed Jones and Schwab and moved everything to Fidelity. Much simpler and less expensive than the other two.
Posted on 7/26/23 at 7:29 pm to GravelLotinCanada
Open a Fidelity retail account and move it all there. You can call them if you need help, but it is pretty simple.
Posted on 7/26/23 at 7:35 pm to GravelLotinCanada
Fidelity, Schwab or Vanguard are low/no cost. I would not go with a local bank. Why the aversion to Schwab?
Posted on 7/27/23 at 6:26 pm to GravelLotinCanada
I use vanguard, interface is a little difficult, but if you aren’t trading much it’s fine.
I use Schwab for my regular brokerage and it is much easier to navigate and buy/sell if you’re really active.
I use Schwab for my regular brokerage and it is much easier to navigate and buy/sell if you’re really active.
Posted on 7/27/23 at 6:51 pm to GravelLotinCanada
If you can’t figure out how to move your own money from one place to another, it might be best to keep that money under professional management
Posted on 7/28/23 at 6:41 am to GravelLotinCanada
Call Schwab. Open the accounts you need. VOO is the etf you are looking for.
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