Got a new job that does not allow 401k rollovers. Now I am in search of a good broker to place an IRA with. Looking for a place with very low fees, and a good amount of options. Anyone have any reccomendations? Also thinking about converting this 401k to a roth. Has anyone done this? I believe all I have to do is pay the taxes on it right? Any advice would be greatly appreciated!
Another for Vanguard, that's who I have. I had an old 401k and rolled it into a Roth IRA. Just keep in mind that you will have to pay tax on that amount. Pugs
Just started a new job about a month ago and I'm thinking about opening a Roth IRA. Any advice on commercial banks as far opening an account with them? Or am I better off with a place like Vanguard?
I should also point out I have very little idea as far as how to invest my money for retirement. I would like somewhere I could walk into and talk to someone about different options. I also have a traditional 401k from a previous employer that I plan to roll over to my new job when eligible to receive matching contributions but would also like to switch up some of those investments.
all a bank is good for is a checking account and loan. don't go there for investments. research investing yourself. it takes a little time but the payoff is much better than the .5% CDs you'll get from the banks. google index funds and read john bogle books for starters or visit http://www.bogleheads.org/forum/index.php.
Don't go somewhere where you have to sit down to talk to someone about different options. That's just asking to be raped with fees. A retirement fund isn't that complicated -- you want it to be mostly stock based (index funds). I also recommend Vanguard. Just use one of their index funds ("Target Retirement ____(year)") and you're set. There's no need to make it much more complicated than that.
Both Wells Fargo and Fidelity should be inexpensive brokerage account options. Both have local offices, so face time is a possibility if needed.
