Roth IRA Question

[Youngblood]

Hey Everyone!

I've been contemplating the idea of transferring my Roth IRA (and still make contributions to) to Vangaurd. I wasn't sure if there were general rules about transferring from one Roth IRA to another Roth IRA, or if I will have to dig into the fine print of my paperwork to see if I'm eligible to do this. If there is a link to another forum about this, please attach it in the response.

Furthermore, I currently have a 401K with Vangaurd, and I've been very happy with them. So, that leads me to another question. Do you think it's wise to keep both 401K and Roth IRA with the same investment company? I don't see an issue with this, but I would appreciate any feedback.

Thank you!

 

[Sojourner]

Do you mean transferring a Roth IRA from one company to another? I wouldn't think there would be any problems with this, but honestly I don't know since I've never looked into it.

It would be perfectly fine to have a 401k and Roth IRA both with Vanguard. I have multiple types of investment accounts (mutual funds, brokerage, 401k, IRA, etc.) with Vanguard, and I have zero concerns about it.

 

[DrRoy]

There is no problem doing this. Just make sure that the paperwork is for a transfer of the IRA from the current location to Vanguard. You do not want it to be a distribution or withdrawl. I am sure that the Vanguard people would help you. Also not problem having both of your retirement accounts there.

 

[Youngblood]

Thank you for the responses! My Roth IRA is not through my company, but my 401K is.

 

[retire2020]

No problem with that. I just transferred my daughter's Roth IRA from Schwab to Fidelity. It was a very simple process - all online.

Also...I have multiple accounts with Fidelity like IRA/Roth/Taxable/401K/HSA and see no problem having them all at Fidelity.

 

[Badger]

I've done a number of transfers from both traditional and roth acounts to Vanguard over the past few years as I consolidate my investments to make withdrawal less confusing for me in anticipation of RMD. Each time I called Vanguard and had them set everything up for me. It was easier to have them coordinate the paperwork. They send me documentation as it progresses and also when it is completed. It also gives me a persons name for referral in case there are any problems. We now have all our IRAs with Vanguard (Wellesley and Wellington Admiral shares) and T Rowe Price and our taxables (stocks) with Scottrade. I may eventually move all IRAs to Vanguard and do it with a call. After all the years of juggling various locations for investments I'm enjoying simple.

Cheers!

 

[Senator]

Make sure you NEVER take possession of the money. Let the brokerage firms handle the transfers.

A private Roth IRA to private Roth IRA should be fine. If you start mixing in Roth 401K accounts, I think you can only go one way.