Should I transfer my Roth IRA from Edward Jones?

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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

NativeTxn wrote: Sat Jun 05, 2021 5:10 pm
Vanguard User wrote: Sat Jun 05, 2021 4:30 pm
NativeTxn wrote: Sat Jun 05, 2021 4:23 pm
Vanguard User wrote: Sat Jun 05, 2021 4:19 pm
NativeTxn wrote: Sat Jun 05, 2021 4:00 pm

In response to the statement in bold, I was simply asserting that you might benefit from an advisor, but not Edward Jones.

IMO, there are lots of people that can benefit from using an advisor; however, also IMO, nobody benefits from using Edward Jones.
What about Robo advisors?
Robo advisors aren’t the same thing as an actual financial planner.

I would argue that the biggest value add for most FAs is the ability to talk clients off the ledge when they are scared or greedy and help them avoid doing the wrong thing at the wrong time. Robos don’t have that ability.

That being said, if someone just wants to use a robo to invest the actual funds, rebalance, etc. I don’t have any issue with it personally (though I personally do not use a robo - I tried both betterment and wealthfront in the past but decided they weren’t worth it to me).
Where do you recommend that someone hire a FA? At Fidelity?
Somewhat depends on what you want.

If you want a robo but with access to advisors for questions, etc., PAS at Vanguard or Fidelity's Personalized Planning and Advice might be worthwhile. They're going to be cheaper than an independent fee-only advisor, but the downside is that unless you have enough assets with them, when you email or call, it's whoever happens to be there that day that takes your call. If you have enough in assets (I believe it's $500,000 at Vanguard and $250,000+ at Fidelity), you can get a dedicated advisor.

If you're looking for "non-algorithmic" investment management as well as someone to manage the whole thing so that you don't really have to worry about anything and you know that you will always get to talk to the same person every time, a fee-only advisor might be worth a look. I would suggest starting by searching the CFP website for advisors in your area and also asking friends and family if they have any recommendations as a starting point. Talk to at least 3 before hiring someone and always make sure that they are a fiduciary and that they are fee-only, NOT fee-based.

If you simply want someone to look over what you've got and make a few suggestions once a year, you could hire a fee-only planner and pay them for an hour or two of time (probably cost $300-$500, give or take).
With my Roth IRA transfer to Fidelity. I will have over $500k in assets there.
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by nyx328 »

I transferred my TIRA from EJ to Fidelity last year and reinvested it in FDEWX — never been happier. Less fees and less time spent communicating with someone else.

FWIW my guy at EJ actually did beat the market over a 10 year period. My 10 year average return was about 21%. I moved the IRA because he was retiring and his son was taking over his clients.
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

nyx328 wrote: Sat Jun 05, 2021 5:53 pm I transferred my TIRA from EJ to Fidelity last year and reinvested it in FDEWX — never been happier. Less fees and less time spent communicating with someone else.

FWIW my guy at EJ actually did beat the market over a 10 year period. My 10 year average return was about 21%. I moved the IRA because he was retiring and his son was taking over his clients.
I am leaning towards FZROX. It has no fee. Your FA at EJ beat the index counting front load fees and expense ratio?
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by ruralavalon »

Vanguard User, have you done the rollover of your Edward Jones Roth IRA to a Roth IRA at Fidelity yet? has the account transferred?
Last edited by ruralavalon on Sun Jun 06, 2021 9:29 am, edited 1 time in total.
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by RickBoglehead »

ruralavalon wrote: Sun Jun 06, 2021 9:26 am Vanguard User, have you done the rollover of your Edward Jones Roth IRA to a Roth IRA Fidelity yst?
This. ^^^ :shock:

This is likely the longest thread of "leaving Edward Jones" in the history of this forum.

OP needs to evaluate whether or not he possesses enough understanding of his investments and investing plan to handle it himself, or hire someone qualified to provide advice or invest for him.
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

ruralavalon wrote: Sun Jun 06, 2021 9:26 am Vanguard User, have you done the rollover of your Edward Jones Roth IRA to a Roth IRA at Fidelity yet? has the account transferred?
Not yet. I did create a Roth IRA at Fidelity. However, I ran into a disclaimer so I wasn’t sure. Here it is:

‘The transfer is not a taxable event and will not be reported to the IRS. If you are transferring the assets from your qualified retirement plan(s) to the Fidelity Retirement Plan, contact your tax advisor to determine if it is necessary to file Form 5310-A prior to the transfer.’

Do I need to file Form 5310-A?
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

RickBoglehead wrote: Sun Jun 06, 2021 9:29 am
ruralavalon wrote: Sun Jun 06, 2021 9:26 am Vanguard User, have you done the rollover of your Edward Jones Roth IRA to a Roth IRA Fidelity yst?
This. ^^^ :shock:

This is likely the longest thread of "leaving Edward Jones" in the history of this forum.

OP needs to evaluate whether or not he possesses enough understanding of his investments and investing plan to handle it himself, or hire someone qualified to provide advice or invest for him.
Almost.

‘The transfer is not a taxable event and will not be reported to the IRS. If you are transferring the assets from your qualified retirement plan(s) to the Fidelity Retirement Plan, contact your tax advisor to determine if it is necessary to file Form 5310-A prior to the transfer.’

Do I need to file Form 5310-A? If not, I can proceed with TOA.
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by RickBoglehead »

Vanguard User wrote: Sun Jun 06, 2021 2:12 pm
RickBoglehead wrote: Sun Jun 06, 2021 9:29 am
ruralavalon wrote: Sun Jun 06, 2021 9:26 am Vanguard User, have you done the rollover of your Edward Jones Roth IRA to a Roth IRA Fidelity yst?
This. ^^^ :shock:

This is likely the longest thread of "leaving Edward Jones" in the history of this forum.

OP needs to evaluate whether or not he possesses enough understanding of his investments and investing plan to handle it himself, or hire someone qualified to provide advice or invest for him.
Almost.

‘The transfer is not a taxable event and will not be reported to the IRS. If you are transferring the assets from your qualified retirement plan(s) to the Fidelity Retirement Plan, contact your tax advisor to determine if it is necessary to file Form 5310-A prior to the transfer.’

Do I need to file Form 5310-A? If not, I can proceed with TOA.
Answered on Friday at 10:41PM.

"No. You're done."
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

RickBoglehead wrote: Sun Jun 06, 2021 2:13 pm
Vanguard User wrote: Sun Jun 06, 2021 2:12 pm
RickBoglehead wrote: Sun Jun 06, 2021 9:29 am
ruralavalon wrote: Sun Jun 06, 2021 9:26 am Vanguard User, have you done the rollover of your Edward Jones Roth IRA to a Roth IRA Fidelity yst?
This. ^^^ :shock:

This is likely the longest thread of "leaving Edward Jones" in the history of this forum.

OP needs to evaluate whether or not he possesses enough understanding of his investments and investing plan to handle it himself, or hire someone qualified to provide advice or invest for him.
Almost.

‘The transfer is not a taxable event and will not be reported to the IRS. If you are transferring the assets from your qualified retirement plan(s) to the Fidelity Retirement Plan, contact your tax advisor to determine if it is necessary to file Form 5310-A prior to the transfer.’

Do I need to file Form 5310-A? If not, I can proceed with TOA.
Answered on Friday at 10:41PM.

"No. You're done."
I read that but I wasn’t 💯 sure. Now I know. People who need to do this would be say a employer retirement plan right?
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by RickBoglehead »

Vanguard User wrote: Sun Jun 06, 2021 2:15 pm
RickBoglehead wrote: Sun Jun 06, 2021 2:13 pm
Vanguard User wrote: Sun Jun 06, 2021 2:12 pm
RickBoglehead wrote: Sun Jun 06, 2021 9:29 am
ruralavalon wrote: Sun Jun 06, 2021 9:26 am Vanguard User, have you done the rollover of your Edward Jones Roth IRA to a Roth IRA Fidelity yst?
This. ^^^ :shock:

This is likely the longest thread of "leaving Edward Jones" in the history of this forum.

OP needs to evaluate whether or not he possesses enough understanding of his investments and investing plan to handle it himself, or hire someone qualified to provide advice or invest for him.
Almost.

‘The transfer is not a taxable event and will not be reported to the IRS. If you are transferring the assets from your qualified retirement plan(s) to the Fidelity Retirement Plan, contact your tax advisor to determine if it is necessary to file Form 5310-A prior to the transfer.’

Do I need to file Form 5310-A? If not, I can proceed with TOA.
Answered on Friday at 10:41PM.

"No. You're done."
I read that but I wasn’t 💯 sure. Now I know. People who need to do this would be say a employer retirement plan right?
Which is exactly what it says on the IRS link. First few words... "Employers use this form to give notice of"
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

RickBoglehead wrote: Sun Jun 06, 2021 2:19 pm
Vanguard User wrote: Sun Jun 06, 2021 2:15 pm
RickBoglehead wrote: Sun Jun 06, 2021 2:13 pm
Vanguard User wrote: Sun Jun 06, 2021 2:12 pm
RickBoglehead wrote: Sun Jun 06, 2021 9:29 am

This. ^^^ :shock:

This is likely the longest thread of "leaving Edward Jones" in the history of this forum.

OP needs to evaluate whether or not he possesses enough understanding of his investments and investing plan to handle it himself, or hire someone qualified to provide advice or invest for him.
Almost.

‘The transfer is not a taxable event and will not be reported to the IRS. If you are transferring the assets from your qualified retirement plan(s) to the Fidelity Retirement Plan, contact your tax advisor to determine if it is necessary to file Form 5310-A prior to the transfer.’

Do I need to file Form 5310-A? If not, I can proceed with TOA.
Answered on Friday at 10:41PM.

"No. You're done."
I read that but I wasn’t 💯 sure. Now I know. People who need to do this would be say a employer retirement plan right?
Which is exactly what it says on the IRS link. First few words... "Employers use this form to give notice of"
Thanks. Good bye EJ and my FA. I guess no more ‘free’ Christmas cards from my FA. LOL.
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by ruralavalon »

Vanguard User, have you done the rollover of your Edward Jones Roth IRA to a Roth IRA at Fidelity yet? has the account transferred?
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

ruralavalon wrote: Sun Jun 06, 2021 3:39 pm Vanguard User, have you done the rollover of your Edward Jones Roth IRA to a Roth IRA at Fidelity yet? has the account transferred?
I will start the TOA today. Already created Roth IRA at Fidelity.
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by TheDDC »

Vanguard User wrote: Wed May 26, 2021 5:55 pm Hello. I have a Vanguard taxable account with just VTSAX in it. However, I am very much leaning towards opening a Roth IRA at Vanguard.

Reason: High front load fund (started with 5.75% and down to 3.75%) they are all in American Funds Class A and the ER is as high as over 1% in one of the funds my FA has invested in, high expense ratios and annual maintenance fees ($40).

I have done some research and it looks all went out of EJ. The three recommended were Vanguard, Fidelity and Charles Schwab.

I’ve had the account since 2007. It looks like I should be able to get the same ROI or better here compare to EJ with fees right?
Do the American Funds outperform VTSAX? If they do not (with advisor fees and loads factored in), then you may have your answer as American Funds are not typically available through a retail brokerage. American Funds aren't the worst, however.

Beware of some on this forum in the sense that you will get some Debbie Downers who will claim that equities in total are on a downward spiral over the next decade or the next hundred years or whatever. My response: Either Bogleheads are right or wrong about the approach to wealth and saving. I also personally do not hold any bonds in my non-emergency fund, non-inherited investments.

If you need someone to hold your hand during these dips here and there than you will want to keep a financial advisor somewhere. If you are fine weathering the storms but are able to keep things in perspective in knowing that the market goes up over time then you would be well served by doing it yourself. You will also save a lot more money that way. I don't know about you but I like actually making money from my investments. That's why I invest.

Good luck!

-TheDDC
Rules to wealth building: 75-80% VTSAX piled high and deep, 20-25% VTIAX, 0% given away to banks, minimize amount given to medical-industrial complex
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

TheDDC wrote: Sun Jun 06, 2021 4:10 pm
Vanguard User wrote: Wed May 26, 2021 5:55 pm Hello. I have a Vanguard taxable account with just VTSAX in it. However, I am very much leaning towards opening a Roth IRA at Vanguard.

Reason: High front load fund (started with 5.75% and down to 3.75%) they are all in American Funds Class A and the ER is as high as over 1% in one of the funds my FA has invested in, high expense ratios and annual maintenance fees ($40).

I have done some research and it looks all went out of EJ. The three recommended were Vanguard, Fidelity and Charles Schwab.

I’ve had the account since 2007. It looks like I should be able to get the same ROI or better here compare to EJ with fees right?
Do the American Funds outperform VTSAX? If they do not (with advisor fees and loads factored in), then you may have your answer as American Funds are not typically available through a retail brokerage. American Funds aren't the worst, however.

Beware of some on this forum in the sense that you will get some Debbie Downers who will claim that equities in total are on a downward spiral over the next decade or the next hundred years or whatever. My response: Either Bogleheads are right or wrong about the approach to wealth and saving. I also personally do not hold any bonds in my non-emergency fund, non-inherited investments.

If you need someone to hold your hand during these dips here and there than you will want to keep a financial advisor somewhere. If you are fine weathering the storms but are able to keep things in perspective in knowing that the market goes up over time then you would be well served by doing it yourself. You will also save a lot more money that way. I don't know about you but I like actually making money from my investments. That's why I invest.

Good luck!

-TheDDC
Couple users volunteered to run my #'s and it looked like the results were $25k-$50k more had I not invested in AF and did VTSAX. My MF's had starting front load of 5.75% and nearly 1% ER with annual maintenance fees. According to J.L Collins of 'The Simple path to Wealth', he does not like actively managed funds because of high fees. He loves index funds. My FA at EJ has me at 10% Bonds in my 401k. I really prefer a very aggressive 100% equity index fund. I have no issue with stock market crashes as I went through 2008 and 2020 myself. I benefited from DCA.
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

I just started the TOA from EJ to Fidelity.

Estimated Completion Date: 06/14/21.

I think it will be sooner though. It is a waiting game now.

I am sure my FA and staff will be in complete disbelief and stunned LOL after being with them for almost 15 years.
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by ruralavalon »

Vanguard User wrote: Sun Jun 06, 2021 7:30 pm I just started the TOA from EJ to Fidelity.

Estimated Completion Date: 06/14/21.

I think it will be sooner though. It is a waiting game now.

I am sure my FA and staff will be in complete disbelief and stunned LOL after being with them for almost 15 years.
It's great to see that you have started the rollover of your Roth IRA.

Over the next week while the process completes, I suggest that you assemble and then post all of your financial details in a new thread in this format: Asking Portfolio Questions. Be sure to include all accounts.

You also have a taxable brokerage account at Vanguard, a 401k account with your employer using Fidelity, and an ESPP account at Fidelity. It's often important to coordinate investments among all accounts treating all accounts together as a single unified portfolio, rather than treat the new Fidelity Roth IRA separately.

This approach allows you to limit yourself to just the best funds in your employer's 401k plan (where the choices are limited), and also have better tax-efficiency in your taxable account.
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

ruralavalon wrote: Mon Jun 07, 2021 10:36 am
Vanguard User wrote: Sun Jun 06, 2021 7:30 pm I just started the TOA from EJ to Fidelity.

Estimated Completion Date: 06/14/21.

I think it will be sooner though. It is a waiting game now.

I am sure my FA and staff will be in complete disbelief and stunned LOL after being with them for almost 15 years.
It's great to see that you have started the rollover of your Roth IRA.

Over the next week while the process completes, I suggest that you assemble and then post all of your financial details in a new thread in this format: Asking Portfolio Questions. Be sure to include all accounts.

You also have a taxable brokerage account at Vanguard, a 401k account with your employer using Fidelity, and an ESPP account at Fidelity. It's often important to coordinate investments among all accounts treating all accounts together as a single unified portfolio, rather than treat the new Fidelity Roth IRA separately.

This approach allows you to limit yourself to just the best funds in your employer's 401k plan (where the choices are limited), and also have better tax-efficiency in your taxable account.
Thanks.
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

Looks like TOA completed but all I see is exact shares and American Funds that I was invested in at EJ.

No dollar amount.

How do I sell everything and buy FZROZ. Balance is $141K+. This would mean I would have to use the entire $141K+ to purchase FZROZ right?
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by ruralavalon »

Vanguard User wrote: Wed Jun 09, 2021 10:56 pm Looks like TOA completed but all I see is exact shares and American Funds that I was invested in at EJ.

No dollar amount.

How do I sell everything and buy FZROZ. Balance is $141K+. This would mean I would have to use the entire $141K+ to purchase FZROZ right?
Congratulations on completing the rollover of your Roth IRA to Fidelity, and escaping from Edward Jones :D .

I have no accounts at Fidelity, so don't know the process for selling and buying funds there.

I suggest that you assemble and then post all of your financial details in a new thread in this format: Asking Portfolio Questions. Be sure to include all accounts.

You also have a taxable brokerage account at Vanguard, a 401k account with your employer using Fidelity, and an ESPP account at Fidelity. It's often important to coordinate investments among all accounts treating all accounts together as a single unified portfolio, rather than treat the new Fidelity Roth IRA separately.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

ruralavalon wrote: Thu Jun 10, 2021 8:54 am
Vanguard User wrote: Wed Jun 09, 2021 10:56 pm Looks like TOA completed but all I see is exact shares and American Funds that I was invested in at EJ.

No dollar amount.

How do I sell everything and buy FZROZ. Balance is $141K+. This would mean I would have to use the entire $141K+ to purchase FZROZ right?
Congratulations on completing the rollover of your Roth IRA to Fidelity, and escaping from Edward Jones :D .

I have no accounts at Fidelity, so don't know the process for selling and buying funds there.

I suggest that you assemble and then post all of your financial details in a new thread in this format: Asking Portfolio Questions. Be sure to include all accounts.

You also have a taxable brokerage account at Vanguard, a 401k account with your employer using Fidelity, and an ESPP account at Fidelity. It's often important to coordinate investments among all accounts treating all accounts together as a single unified portfolio, rather than treat the new Fidelity Roth IRA separately.
I did leave on good terms and respectfully ended our business at EJ.
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by RickBoglehead »

Vanguard User wrote: Wed Jun 09, 2021 10:56 pm Looks like TOA completed but all I see is exact shares and American Funds that I was invested in at EJ.

No dollar amount.

How do I sell everything and buy FZROZ. Balance is $141K+. This would mean I would have to use the entire $141K+ to purchase FZROZ right?
No idea what you mean by "no dollar amount". When I log in, it shows the total dollar of my accounts in the top left corner, about 2 inches down, in bright YELLOW. I suggest you pick up the phone and call Fidelity and ask any questions you have, it's likely the funds are still in process if you don't have a dollar amount.

To buy a fund at Fidelity, you click on Positions, then click on the holding that you want to sell. Then click on Trade. Then click on Action, and click Sell and use proceeds to buy another.

If that's not enough info, again pick up the phone and have a rep walk you through the steps.

http://personal.fidelity.com/webxpress/ ... unds.shtml
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

RickBoglehead wrote: Thu Jun 10, 2021 12:41 pm
Vanguard User wrote: Wed Jun 09, 2021 10:56 pm Looks like TOA completed but all I see is exact shares and American Funds that I was invested in at EJ.

No dollar amount.

How do I sell everything and buy FZROZ. Balance is $141K+. This would mean I would have to use the entire $141K+ to purchase FZROZ right?
No idea what you mean by "no dollar amount". When I log in, it shows the total dollar of my accounts in the top left corner, about 2 inches down, in bright YELLOW. I suggest you pick up the phone and call Fidelity and ask any questions you have, it's likely the funds are still in process if you don't have a dollar amount.

To buy a fund at Fidelity, you click on Positions, then click on the holding that you want to sell. Then click on Trade. Then click on Action, and click Sell and use proceeds to buy another.

If that's not enough info, again pick up the phone and have a rep walk you through the steps.

http://personal.fidelity.com/webxpress/ ... unds.shtml
I see the dollar amount now. It took a day to update.

$141,153.61 with AF in it.

I want to buy FZROX so will it let me spend all of it since the limit is $6k?
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by ruralavalon »

I see the dollar amount now. It took a day to update.

$141,153.61 with AF in it.

I want to buy FZROX so will it let me spend all of it since the limit is $6k?
The $6k annual limit is for new contributions to your Roth IRA.

Yes you can switch all $141k into Fidelity index funds.

You also have a taxable brokerage account at Vanguard, a 401k account with your employer using Fidelity, and an ESPP account at Fidelity. It's often important to coordinate investments among all accounts treating all accounts together as a single unified portfolio, rather than treat the new Fidelity Roth IRA separately.
Last edited by ruralavalon on Thu Jun 10, 2021 2:53 pm, edited 1 time in total.
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by RickBoglehead »

Vanguard User wrote: Thu Jun 10, 2021 2:33 pm
RickBoglehead wrote: Thu Jun 10, 2021 12:41 pm
Vanguard User wrote: Wed Jun 09, 2021 10:56 pm Looks like TOA completed but all I see is exact shares and American Funds that I was invested in at EJ.

No dollar amount.

How do I sell everything and buy FZROZ. Balance is $141K+. This would mean I would have to use the entire $141K+ to purchase FZROZ right?
No idea what you mean by "no dollar amount". When I log in, it shows the total dollar of my accounts in the top left corner, about 2 inches down, in bright YELLOW. I suggest you pick up the phone and call Fidelity and ask any questions you have, it's likely the funds are still in process if you don't have a dollar amount.

To buy a fund at Fidelity, you click on Positions, then click on the holding that you want to sell. Then click on Trade. Then click on Action, and click Sell and use proceeds to buy another.

If that's not enough info, again pick up the phone and have a rep walk you through the steps.

http://personal.fidelity.com/webxpress/ ... unds.shtml
I see the dollar amount now. It took a day to update.

$141,153.61 with AF in it.

I want to buy FZROX so will it let me spend all of it since the limit is $6k?
You're confusing reinvesting an existing retirement account with making a contribution to a retirement account. You can sell everything in a retirement account, and buy new investments with the proceeds, anytime you want. No limits.
Last edited by RickBoglehead on Thu Jun 10, 2021 4:57 pm, edited 1 time in total.
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

ruralavalon wrote: Thu Jun 10, 2021 2:52 pm
I see the dollar amount now. It took a day to update.

$141,153.61 with AF in it.

I want to buy FZROX so will it let me spend all of it since the limit is $6k?
The $6k annual limit is for new contributions to your Roth IRA.

Yes you can switch all $141k into Fidelity index funds.
It would be a big purchase of this amount. I guess I will have no other choice to buy in increments?
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

Vanguard User wrote: Thu Jun 10, 2021 2:54 pm
ruralavalon wrote: Thu Jun 10, 2021 2:52 pm
I see the dollar amount now. It took a day to update.

$141,153.61 with AF in it.

I want to buy FZROX so will it let me spend all of it since the limit is $6k?
The $6k annual limit is for new contributions to your Roth IRA.

Yes you can switch all $141k into Fidelity index funds.
It would be a big purchase of this amount. I guess I will have no other choice but to buy in lumpsum?m
Last edited by Vanguard User on Thu Jun 10, 2021 2:58 pm, edited 1 time in total.
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ruralavalon
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by ruralavalon »

Vanguard User wrote: Thu Jun 10, 2021 2:54 pm
Vanguard User wrote: Thu Jun 10, 2021 2:54 pm
ruralavalon wrote: Thu Jun 10, 2021 2:52 pm
I see the dollar amount now. It took a day to update.

$141,153.61 with AF in it.

I want to buy FZROX so will it let me spend all of it since the limit is $6k?
The $6k annual limit is for new contributions to your Roth IRA.

Yes you can switch all $141k into Fidelity index funds.
It would be a big purchase of this amount. I guess I will have no other choice but to buy in lumpsum?
I suggest investing this all at once, rather than in increments
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

ruralavalon wrote: Thu Jun 10, 2021 2:57 pm
Vanguard User wrote: Thu Jun 10, 2021 2:54 pm
Vanguard User wrote: Thu Jun 10, 2021 2:54 pm
ruralavalon wrote: Thu Jun 10, 2021 2:52 pm
I see the dollar amount now. It took a day to update.

$141,153.61 with AF in it.

I want to buy FZROX so will it let me spend all of it since the limit is $6k?
The $6k annual limit is for new contributions to your Roth IRA.

Yes you can switch all $141k into Fidelity index funds.
It would be a big purchase of this amount. I guess I will have no other choice but to buy in lumpsum?
I suggest investing this all at once, rather than in increments
To avoid high ER with AF?
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

RickBoglehead wrote: Thu Jun 10, 2021 2:52 pm
Vanguard User wrote: Thu Jun 10, 2021 2:33 pm
RickBoglehead wrote: Thu Jun 10, 2021 12:41 pm
Vanguard User wrote: Wed Jun 09, 2021 10:56 pm Looks like TOA completed but all I see is exact shares and American Funds that I was invested in at EJ.

No dollar amount.

How do I sell everything and buy FZROZ. Balance is $141K+. This would mean I would have to use the entire $141K+ to purchase FZROZ right?
No idea what you mean by "no dollar amount". When I log in, it shows the total dollar of my accounts in the top left corner, about 2 inches down, in bright YELLOW. I suggest you pick up the phone and call Fidelity and ask any questions you have, it's likely the funds are still in process if you don't have a dollar amount.

To buy a fund at Fidelity, you click on Positions, then click on the holding that you want to sell. Then click on Trade. Then click on Action, and click Sell and use proceeds to buy another.

If that's not enough info, again pick up the phone and have a rep walk you through the steps.

http://personal.fidelity.com/webxpress/ ... unds.shtml
I see the dollar amount now. It took a day to update.

$141,153.61 with AF in it.

I want to buy FZROX so will it let me spend all of it since the limit is $6k?
You're confusing reinvesting an existing retirement account with making a contribution to a retirement account. You can sell everything in a retirement account, and by new investments with the proceeds, anytime you want. No limits.
Thanks.
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by RickBoglehead »

Vanguard User wrote: Thu Jun 10, 2021 2:58 pm
ruralavalon wrote: Thu Jun 10, 2021 2:57 pm
Vanguard User wrote: Thu Jun 10, 2021 2:54 pm
Vanguard User wrote: Thu Jun 10, 2021 2:54 pm
ruralavalon wrote: Thu Jun 10, 2021 2:52 pm
The $6k annual limit is for new contributions to your Roth IRA.

Yes you can switch all $141k into Fidelity index funds.
It would be a big purchase of this amount. I guess I will have no other choice but to buy in lumpsum?
I suggest investing this all at once, rather than in increments
To avoid high ER with AF?
And to get better performance.
Avid user of forums on variety of interests-financial, home brewing, F-150, PHEV, home repair, etc. Enjoy learning & passing on knowledge. It's PRINCIPAL, not PRINCIPLE. I ADVISE you to seek ADVICE.
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

RickBoglehead wrote: Thu Jun 10, 2021 4:58 pm
Vanguard User wrote: Thu Jun 10, 2021 2:58 pm
ruralavalon wrote: Thu Jun 10, 2021 2:57 pm
Vanguard User wrote: Thu Jun 10, 2021 2:54 pm
Vanguard User wrote: Thu Jun 10, 2021 2:54 pm

It would be a big purchase of this amount. I guess I will have no other choice but to buy in lumpsum?
I suggest investing this all at once, rather than in increments
To avoid high ER with AF?
And to get better performance.
Oh ok because I would be locked into a single share price of FZROX at $141k.
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

Why is FZROX share price $15 compare to FSKAX $121?
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by RickBoglehead »

Vanguard User wrote: Thu Jun 10, 2021 5:38 pm Why is FZROX share price $15 compare to FSKAX $121?
Share price is irrelevant.
Avid user of forums on variety of interests-financial, home brewing, F-150, PHEV, home repair, etc. Enjoy learning & passing on knowledge. It's PRINCIPAL, not PRINCIPLE. I ADVISE you to seek ADVICE.
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

RickBoglehead wrote: Thu Jun 10, 2021 5:43 pm
Vanguard User wrote: Thu Jun 10, 2021 5:38 pm Why is FZROX share price $15 compare to FSKAX $121?
Share price is irrelevant.
Oh ok. Probably because FZROX is newer fund right?
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

Little nervous here but I will buy FZROX and go all on it.
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Silverado »

Vanguard User wrote: Fri Jun 11, 2021 2:59 pm Little nervous here but I will buy FZROX and go all on it.
Do it, just do it.



What a thread, just wow. I couldn’t look away.
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Re: Should I transfer my Roth IRA from Edward Jones?

Post by Vanguard User »

Silverado wrote: Fri Jun 11, 2021 4:31 pm
Vanguard User wrote: Fri Jun 11, 2021 2:59 pm Little nervous here but I will buy FZROX and go all on it.
Do it, just do it.



What a thread, just wow. I couldn’t look away.
Indeed. Bye EJ.
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