IRAs
- Thread starter desertrat
- Start date
GopherM
Darwin was right
I have used T. Rowe Price for years. They have numeous funds and you can split your money among them. That is who our former company used to use.
Chasey_Lane
Salt Life
TRP is associated with Boston Financial. I believe TRP is just the middle man.
I have used Wells Fargo (Wachovia) for a few years and have always shown modest yearly gains. Like post above you can chose level of risk and areas you wish to invest in. Highest fee I have ever paid was $40.00 a year.
desertrat
0_0
OK, all good, does anyone use a local agent or do it on line or what?
onebdzee
off the shelf
My mom and brother use someone local, but they are up in Harford County....I could call and get the info if you want?
desertrat
0_0
Thanks, but I guess I'll just pick some one out of the book and see who they deal with.
itsbob
I bowl overhand
What kind of IRA are you looking for?
IRA is a term for a "tax sheltered" savings.. You can shelter many different kinds of savings.
I'm assuming what you are asking you are looking at Mutual FUnds, and if you are, a little time doing some research can pay huge dividends. MOST mutual funds pay commisions (sometimes >10%, how the guy at the bank gets paid) to those that sell their product, and it comes right out of your money.. some have front load fees (a percent of the money you invest) some have backload fees (charged on the total money you take out, your money plus the money earned), and of course almost all of them have yearly admin fees, sometimes as high as 5%..
If you can do some research do it yourself, you'll save a LOT of money. Look at MorningStar, they do the research for you, and can list mutual funds by which ones perform better, AND rate them as to what your costs will be.
Vanguard is usually at the top of the lists. Worth looking at, and you can do a monthly alottment to their funds instead of having to come up with a minimum of 5 - 25k to invest.
itsbob
I bowl overhand
Here's one of Morningstars free tools. that you can pick the type of funds, choose what time period, and will rank them by performance..
SOme funds are making over 40% just this year, but funds like that you have to be willing to take big losses too.
Morningstar
SOme funds are making over 40% just this year, but funds like that you have to be willing to take big losses too.
Morningstar
GopherM
Darwin was right
I went direct with them (phone or on-line) for many years. Recently I have moved to Edward Jones to manage things for me, but I still have the ability to direct where I want the money invested.
desertrat
0_0
This will be a one time roll over. Thanks.
ProfMoneyWise
Member
I use Edward Jones for my IRA's and a personal account. I also have one I manage myself, with Edward Jones consultation as to how I am allocated. My IR has volunteered to help me out with the non-EJ account (current company 401k).
I like Edward Jones in that they recommend (and I agreed) to work up a full picture of my financial situation and profile based upon my income, age, and goals. These are adjusted as time goes on to reflect my worth, assets, age, and any goal changes.
Some individuals are very hands on when it comes to research and some just don't have that as an interest (or the time to do it) and choose to hire someone (in this case Edward Jone) to do the leg work for them. The fees charged are in return for a service. It is up to you to ensure you get the service you paid for and also always be aware of where your money is and what it is doing.
At the very least look up the top 10 holdings of any funds you may be in to see where you are invested and patronize those establishments/companies.
itsbob
I bowl overhand
We just did this through VanGuard, with no middle man, it was all done through phone calls and e-mail.
Totally painless for us, and no fees.
