need help with moving roth ira to vanguard..should i wait or do it ASAP?

[dooo42]

i'm leaving ameripirse and going to vanguard. My so called financial advisor is the one that chose my funds for me so i really have no clue how to choose the proper ones. Should i keep my money in with ameriprise a little while longer and read a few books to get a handle on mutual funds and then transfer or is there a basic vanguard fund that i can transfer over to right now that will give good returns. then i can study up while it's in vanguard. what you think?

 

[REWahoo]

I suspect you will encounter some delays in getting your money out of Ameriprise so I'd start the process ASAP. Nothing wrong with sticking the funds in a Vanguard MMKt fund while you decide where you want to invest. Even though a MMKt fund is paying zilch, you'll be out of the clutches of Ameriprise and poised to move your funds where you want once you get up to speed. I'd suggest you talk to the folks at Vanguard and see what they say.

 

[easysurfer]

I would contact Vanguard and get the process going. A common approach is the park the money into a money market, then from there decide what you want to do. Once there, you can learn about funds and investing before making your next move.

One rule of thumb is to not invest in something you don't understand and from your post it seems like you had let the planner decide for you, so now is a good time to learn and understand. Brings back memories...been there myself

Good luck.