I am enjoying the ride! Yeah I know. many who are missing out say "its a bubble" and "the gains are not real", but WOW does my real estate I bought with the gains, and the cash I put away through gains, all sure apprear "real" to me.
Did same with my parents IRA, bought vanguard through fidelity,I have everything consolidated in my Fidelity account, even a Vanguard fund.
AFAIK, you don't want your IRA to ever hit a brokerage account. You open up a new IRA retirement account at the new broker and then transfer the old IRA retirement account into the new IRA account through transfer paperwork. I could be wrong and I've never had a ROTH IRA but once that money hits your brokerage account, it's a distribution and you open yourself up to penalties and whatnot.Finally working on my Roth today. Bit confusing, doing this all online, would be totally worth it to have someone walk me through it, at least once... even if I had to pay for it... oh well. I think the transfer has to go through, into the brokerage account, then I can transfer that and do 2020's Roth, then once that is done I can set up 2021's Roth--I think I will set that to automatic withdrawal. Going middle of the road? 2030 target fund (FFEGX), some growth but less risk, it can be part of my emergency fund. [Converting some of my emergency fund over, not all of it!]
Finally changing a "stable money fund" into a small cap fund, I'm more than 10 years out from retirement, so not sure why I have this fund in the first place (probably because I was a no-risk investor when I started). That gives me a blend of small (VSIGX) and large cap (TBCIX) funds, and target funds (FFIZX, FFEGX). Best setup? Not yet, but it's all still pretty confusing to me.
All of it is at Fidelity. But that reminds me, I should look at what my wife has for retirements, maybe I should link in her old 403b. I wonder how that would work? I know she hasn't touched it in 15 years.
I used what tools they had online--it was a transfer from my savings account into the brokerage account. Not pulling from my 401k.AFAIK, you don't want your IRA to ever hit a brokerage account. You open up a new IRA retirement account at the new broker and then transfer the old IRA retirement account into the new IRA account through transfer paperwork. I could be wrong and I've never had a ROTH IRA but once that money hits your brokerage account, it's a distribution and you open yourself up to penalties and whatnot.
Ah. Good. My brokers use the terms brokerage account for regular account and retirement account for IRA. I was afraid you were moving IRA money from one account to another and bounced it off your regular non-retirement account.I used what tools they had online--it was a transfer from my savings account into the brokerage account. Not pulling from my 401k.
You can just as easily call Fidelity and they'll walk you through the whole thing. I set up my SEP-IRA that way. And of course on the phone it's free. They do offer an advisory service. Used to be free when it's over a certain threshold. Looks like they charge now but maybe I'm grandfathered as they haven't charged me anything and they still have an advisor assigned to me but I don't really use them that much, just meet them once a year when they try to sell me more services.Finally working on my Roth today. Bit confusing, doing this all online, would be totally worth it to have someone walk me through it, at least once... even if I had to pay for it... oh well. I think the transfer has to go through, into the brokerage account, then I can transfer that and do 2020's Roth, then once that is done I can set up 2021's Roth--I think I will set that to automatic withdrawal. Going middle of the road? 2030 target fund (FFEGX), some growth but less risk, it can be part of my emergency fund. [Converting some of my emergency fund over, not all of it!]
Finally changing a "stable money fund" into a small cap fund, I'm more than 10 years out from retirement, so not sure why I have this fund in the first place (probably because I was a no-risk investor when I started). That gives me a blend of small (VSIGX) and large cap (TBCIX) funds, and target funds (FFIZX, FFEGX). Best setup? Not yet, but it's all still pretty confusing to me.
All of it is at Fidelity. But that reminds me, I should look at what my wife has for retirements, maybe I should link in her old 403b. I wonder how that would work? I know she hasn't touched it in 15 years.
Wow 15 years? Hopefully have it in a decent growth fund...Finally working on my Roth today. Bit confusing, doing this all online, would be totally worth it to have someone walk me through it, at least once... even if I had to pay for it... oh well. I think the transfer has to go through, into the brokerage account, then I can transfer that and do 2020's Roth, then once that is done I can set up 2021's Roth--I think I will set that to automatic withdrawal. Going middle of the road? 2030 target fund (FFEGX), some growth but less risk, it can be part of my emergency fund. [Converting some of my emergency fund over, not all of it!]
Finally changing a "stable money fund" into a small cap fund, I'm more than 10 years out from retirement, so not sure why I have this fund in the first place (probably because I was a no-risk investor when I started). That gives me a blend of small (VSIGX) and large cap (TBCIX) funds, and target funds (FFIZX, FFEGX). Best setup? Not yet, but it's all still pretty confusing to me.
All of it is at Fidelity. But that reminds me, I should look at what my wife has for retirements, maybe I should link in her old 403b. I wonder how that would work? I know she hasn't touched it in 15 years.
Agreed. Always load up the individual Roth IRA.Roth IRAs are great investments.
Most folks in the USA don’t even know what they are. They can tell you about some stupid reality TV show but nothing about saving for the future.
My son missed gme but he's holding cciv.Anyone holding CCIV waiting for an announcement... or still with “diamond hands” holding GME?
I’m holding Vic, I did take a position in that a while ago at a reasonable entry point.My son missed gme but he's holding cciv.
I bought Gme at $38 and sold at $58. Then bought some at $152 and sold at $403. I got too greedy with NOK. Was up a lot but didn't sell and lost all my winnings and a little more. I'll check out Vic.I’m holding Vic, I did take a position in that a while ago at a reasonable entry point.
I don’t play games with situations like GME. In hindsight should have tried to short it at $400 but that’s ok. I just chuckle with all the “diamond hands” comments you see.
I bought Gme at $38 and sold at $58. Then bought some at $152 and sold at $403. I got too greedy with NOK. Was up a lot but didn't sell and lost all my winnings and a little more. I'll check out Vic.
Split between a large cap fund and a target fund, working on adding a small cap fund also. Trying to figure out how to get more growth than a retirement target fund for a few years, then I will likely pull most or all into a target & let it do the work for me.Wow 15 years? Hopefully have it in a decent growth fund...
I few years ago I found out my dad had a small Roth IRA sitting in a CD earning 0.25% for the past 23 years......