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good time to roll over 401Ks?

"Default User" wrote snip; look back

Well you drug ;-) the OP down that path by not mentioning that he can avoid the taxes and have all his funds held at one institution in a TIRA and Roth IRA. Technically two accounts but this would all be under his name at the one institution.

Or if one wants to get technical about it, he could withdraw his contributions without penalty from the Roth and likely end up just having the TIRA. All to get "one account." But this would be silly.

It seems clear to me what the OP wants (or should want, so as to minimize taxes) is to have all his funds at one institution in a TIRA and RIRA and which under his direction will manage it all under his name as if it were one big portfolio. Which it is.

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Reply to
Elle
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Sure. I just wanted to clarify things for him. You're correct that having a TIRA and Roth shouldn't present any difficulty for the broker.

Brian

-------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup.

Reply to
Default User

I did in a follow-up. I got it right eventually.

Brian

-------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup.

Reply to
Default User

B shares are at least as costly as A shares. The difference is that the cost is spread out over several years.

Often A shares are the cheapest way to buy load funds if you are investing enough that you hit one of the breakpoints. See

for some details.

That said, *all* load funds - A, B or C shares - are *very* expensive ways to get advice. And that's what that load ought to be paying for - if you're not getting a hell of a lot of great advice - if you're just buying some funds - run, don't walk, run away.

In the OP's case, 2+ thousand dollars - plus a cut of all future additional investments - should buy him a hell of a lot of great advice from a real planner instead of a salesman.

Reply to
BreadWithSpam

American Funds have nothing to do with captive agents. To my knowledge there are NO captive American Funds agents. I choose not to, but I am appointed to sell AF as well as about 3 dozen other loaded funds and I am not a "captive agent" of any company.

B shares cost MORE than A shares over long periods of time because the expense ratios, on average, are higher. The risk in both cases is that the advisor profits from buying and selling, not holding. Is regularly buying and selling part of your investment plan?

Try this app:

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Otherwise, I agree with your post. To the OP, stay away from loaded funds: be aware of the possible hard feelings that will arise if you ever become displeased with your friend/advisor; consult a fee-based financial planner that doesn't profit from selling specific products.

-------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup.

Reply to
kastnna

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