Glen,
Not sure your age, but I don't think banks are the best places for your IRA. Sure, they'd be insured by the FDIC but it would be in a money market fund making a small, safe return. I'd advise one of several good mutual fund companies with a portfolio heavy in stocks(provided you dont need the income soon and have time to wait out the down periods). Some very good choices would be: Vanguard, Fidelity, Janus, and American Century. Most can be done with a rather small startup deposit and easy account signup online or through the mail.
If you do choose to go with a bank, pretty much any of the larger ones(B of A, Wells Fargo, WaMu etc.) can set you up quickly as well.
Good idea investing in an IRA, excellent way to save without any taxes coming out(if you do a Roth).
:drink:
Not sure your age, but I don't think banks are the best places for your IRA. Sure, they'd be insured by the FDIC but it would be in a money market fund making a small, safe return. I'd advise one of several good mutual fund companies with a portfolio heavy in stocks(provided you dont need the income soon and have time to wait out the down periods). Some very good choices would be: Vanguard, Fidelity, Janus, and American Century. Most can be done with a rather small startup deposit and easy account signup online or through the mail.
If you do choose to go with a bank, pretty much any of the larger ones(B of A, Wells Fargo, WaMu etc.) can set you up quickly as well.
Good idea investing in an IRA, excellent way to save without any taxes coming out(if you do a Roth).
:drink:
lander said:
Sure, just contact First Fidelity on what you need to do for the rollover. Sometimes I think the bank issues you the proceeds check and sometimes it would go directly to the rollover institution. I think you've got 90 or 180 days(not sure) to complete the rollover without tax penalty. Get in touch with FF and they'll have all the answers.
Lander,
Glad to help with the suggestion. Have you decided what fund family you're going to look into yet? Vanguard is the one I highly recommend you look into. Their Index Funds carry some of the lowest expense ratios around, and any of their managed funds also carry reasonable expense ratios.
Im sure you're very aware of the risks involved with any non-gov't backed security, but a wise move to get out of the money markets, for long-term growth anyway.
Keep up the good work with the Live Lines.
:drink:
Glad to help with the suggestion. Have you decided what fund family you're going to look into yet? Vanguard is the one I highly recommend you look into. Their Index Funds carry some of the lowest expense ratios around, and any of their managed funds also carry reasonable expense ratios.
Im sure you're very aware of the risks involved with any non-gov't backed security, but a wise move to get out of the money markets, for long-term growth anyway.
Keep up the good work with the Live Lines.
:drink:
