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Business owner wanting to retire by 55
Old 08-06-2011, 01:56 PM   #1
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Business owner wanting to retire by 55

Hello everyone. I am 39 years old. Married with no kids. I started my business 8 years ago and thankfully have had success. I currently have $350,000 in the bank. I have over $40,000 in a Roth IRA. I have over $24,000 in a SEP IRA. I also have approximately $50,000 in the stock market. I am not a savvy investor, but I am trying to learn. I like Vanguard Funds due to their active management and low expenses. I own $5,000 in the Vanguard Target Date 2025 Fund. And another $5,000 in the Vanguard Target date 2040 Fund. I am planning on getting more aggressive with these 2 funds, so I will have 2 fund sources staggered 15 years apart. I will be 53 with the target date of 2025. And I will be 68 with the target date of 2040. Any advice you experts can offer would be greatly appreciated.
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Old 08-06-2011, 02:00 PM   #2
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Hi Red, welcome to the forum. Sounds like you have a good head start and are asking the right questions. Lots of advice to be had around here, and you can search the forum for past threads that may also help.
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Old 08-06-2011, 02:46 PM   #3
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Quote:
Originally Posted by MichaelB View Post
Hi Red, welcome to the forum. Sounds like you have a good head start and are asking the right questions. Lots of advice to be had around here, and you can search the forum for past threads that may also help.
Hi Michael! I have been browsing the forum and just realized I am being screwed by Ameriprise! With my previous employer I was actually with H&R Block Financial Advisors. After I started my own business I just stayed with them. In December 2008 they became AMERIRPISE. Luckily I have around $20,000 with Wells Fargo Online Trading and around $30,000 with Scottrade. Unfortunately my ROTH and SEP IRAs are with Ameriprise. Should I roll that over to Scottrade or Wells Fargo? I do have a PMA Account with Wells Fargo Bank, so I am qualified for 100 free trades every year. Thanks for any advice you can offer!
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Old 08-06-2011, 09:01 PM   #4
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Hi Red

Ahhh, Ameriprise. I've never dealt with them but lots of folks here have. Try a search for "Ameriprise" for many past threads. Here's a link to one -- look for REWahoo and Gumby's posts (posts 2 and 3) for other links to Ameriprise threads. How to leave Ameriprise, need help!

Regarding where to move your retirement funds, if you post your questions in the "FIRE and money" forum you will get lots of suggestions.
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Old 08-06-2011, 09:15 PM   #5
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Welcome, Red35.
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Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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