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I am having to rollover my 401k to an IRA since becoming self-employed and I cannot further contribute to my 401k until I do (unless I open a separate one and leave the original alone). Nonetheless, I'm rolling it over.
Can anyone tell me about their experiences with their retirement fund companies? I know a lot of fees must be considered, but some apparently do not have minimum balance fees, loads, etc. other than the fees that are built into the fund itself. Any recommendations or thoughts I will surely investigate (and won't hold anyone to anything since I am purely soliciting peoples' thoughts and experiences with good companies that do not have a lot of high fees or, preferably, none at all).
Over the past 10 years we've switched almost all of our stuff to T. Rowe Price. No fees (depending on TOTAL balance) and a wide selection of fund choices. I think any large fund "family" is going to offer similar fund choices as well as phone/internet servicing.
Low cost and good options at Vanguard, Fidelity, and Schwab. Many other brokerage firms will also to a good job but may be a bit more expensive depending upon your situation.
Just switched to TD Ameritrade... love them... were traditional online brokerage firm, but have really upgraded with tons of tools and also now have local offices if you want that help/support.
Just switched to TD Ameritrade... love them... were traditional online brokerage firm, but have really upgraded with tons of tools and also now have local offices if you want that help/support.
I did the same thing and have been very happy with them.
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EdwardJones is full service as far as I know. load funds (sometimes front and rear), and expensive management and transaction fees. I haven't used them for many years, but they were one of the few gig's in town, so I used them at the time.
With nominal market growth, tax advantaged and low cost funds are important to preserve capital. There are some high fliers, but statistically they are not consistently superior. I really depends on your desired activity level and what you are willing to pay for a return. Personally I feel safer with my investments in Fidelity or Vanguard, than in the hands of an active 'manager'. I watched one of those guys tell retirees to pull everything out in January. Bit late on that kind of a call. That is the norm, buy high sell low, that is what the real professional traders feed on. Don't let it be your portfolio via a 'boot camp' advisor. I you choose an adviser, diligently review his ACTUAL . REAL performance in all types of markets over a long term, and ask them to only take fees from your NET earnings. Don't give them a blank check by letting them trade your securities at will.
If you choose an adviser, diligently review his ACTUAL . REAL performance in all types of markets over a long term, and ask them to only take fees from your NET earnings. Don't give them a blank check by letting them trade your securities at will.
I think I remember EdwardJones being expensive on the front end, but they claimed the fees were only set at the beginning, 'unlike' others out there that charge trade fees, loads, etc. But, I still wasn't convinced and did not go with them. I recently spoke with a rep at Ameriprise. They appeared to charge around $750 a year for first year, then a management fee yearly after that should you stay with them. Of course, they help you manage the whole ball of wax taking in consideration your retirement, assets, etc. I'm not convinced simply because I haven't reviewed other's experiences. So, if anyone has any thoughts specifically about Ameriprise, that would be helpful.
I'm checking out the suggestions everyone has posted. Keep'em coming because I'm sure there are others who are interested in preserving their retirement funds other than me. And, in this rollercoaster economy, the positive side to it all is that it is stimulating in me more involvement in this aspect of my life. About time.
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