Who to use for an IRA?

[mharris1]

I have a 401k I need to roll over in to something. Is an ira my best bet? If so, who are you using?

[Hooverfb]

I like Vanguard. But if you're asking if an ira is your best bet, you should probably go find a financial advisor first.

[Olphart]

Talk to your bank's financial investment whiz kid......but be aware that a traditional IRA sucks as you will have to pay taxes on EVERYTHING you withdraw (not just interest earned). I chose a Roth IRA for putting a relatively small amount away and will only pay tax on the interest (since I already paid tax on the principle).

If your 401k is pre-tax savings, you'll pay tax on it all as you withdraw. Bank IRAs ain't paying squat, but other options aren't paying much better.

[JustinJ]

Who to use for an IRA?

Talk to your bank's financial investment whiz kid......but be aware that a traditional IRA sucks as you will have to pay taxes on EVERYTHING you withdraw (not just interest earned). I chose a Roth IRA for putting a relatively small amount away and will only pay tax on the interest (since I already paid tax on the principle).

If your 401k is pre-tax savings, you'll pay tax on it all as you withdraw. Bank IRAs ain't paying squat, but other options aren't paying much better.

I’m confused by your post. You shouldn’t pay taxes on withdrawals on a Roth IRA. That’s the whole point. If you paid taxes on the “interest” it would be no different than a run of the mill investment.

To the OP. I use Wealthfront. Very easy and they’ll invest in different funds depending on your risk tolerance. Very low fees. Whether an IRA, either traditional or Roth, is your best bet, I can’t answer.

[Jbird8791]

[/B][/B]

Talk to your bank's financial investment whiz kid......but be aware that a traditional IRA sucks as you will have to pay taxes on EVERYTHING you withdraw (not just interest earned). I chose a Roth IRA for putting a relatively small amount away and will only pay tax on the interest (since I already paid tax on the principle).

If your 401k is pre-tax savings, you'll pay tax on it all as you withdraw. Bank IRAs ain't paying squat, but other options aren't paying much better.

This is wrong. A ROTH is pre-taxed (you paid taxes on the income at your current tax rate) so that you can avoid the taxes later. A ROTH is great if you think you’ll be in a higher tax bracket when you retire or are able to start withdrawals. A traditional IRA allows you to take a tax break up front (therefore you are putting more money in ((the tax savings)). The more money in can help in growing stock markets like we’ve seen recently, however if your in a higher tax bracket later in life (taxes have traditional increased anyway) you will pay more when taking money out of your account. With you asking this question you need an advisor most likely. You could roll it over in to an ira in, e-trade or Scotttrade account and diversify by way of mutual funds and let professionals trade stocks for you. Those professionals get theirs of course. A great intro to start with would be American Funds, they have low fees for a great track record.

I’m not proof Reading this so if spelling and punc. is off, sorry.

[fullsizeaggie]

Edward Jones.

[coachk]

I have a Roth IRA through vanguard...no complaints

[Walker]

What ever you do, use your bank. They will probably do it for free.

[Capt.Brown]

Get a financial advisor, but whoever you choose make sure you feel comfortable with them and they explain to you the process and what your investments will go into. You may still not understand but at least he took the time to try and teach you.

[Triple 7]

What ever you do, use your bank. They will probably do it for free.

No one works for free. You might just not see the cost.

[deerplanter]

Who is managing your 401k may want to start by making with them. I'm guessing it's either Vangaurd or Fidelity. They will have investment strategies for you depending on your age and other factors

[hog_down]

I have a Roth IRA through vanguard...no complaints

x 2 here

[35remington]

Vanguard has been good to me. If I ever found an investment advisor who was worth his salt, I'd move. But I've been looking a long time and haven't found one.

[Shane]

Most of the advice on these kinds of threads is really bad. Some of it is good. It's illegal for licensed advisors to give advice on the internet, so the replies you get on these threads is from people who aren't professionals. Some of them have done lots of homework and have a decent handle on it. If you can't tell the difference, you probably need to find a good financial advisor. Ask your friends and family in your town who they use. Talk to a couple advisors that come recommended to you and find one that you get along with well who will answer all your questions and explain everything well for you. Bad investment decisions can cost a LOT more than professional guidance.

Or, if you'd rather do it yourself without an advisor, you can do that as well. But read lots of books and educate yourself really well before getting started. Whatever you do, don't follow random internet advice. Most of it is bad.

[DRettele]

Edward Jones.

X2

I am happy with my experience with Edward Jones since moving a 401k account from a previous employer to an IRA with them.