Hi everyone, i'm new to the board and through some searching find this forum. I did some research and require some advices or help from fellow forum member regarding my situtation. Thank you.
I recently left my first job after 3 year and few month and have around the below amount from the old employer. There account will now charge me a adminstration fee of 55 buck each year for each account. So thinking about doing a IRA rollover, also I'm 27 btw.
1. 401k - 55k (Annual Fee 55 bucks & Fund expense fee 1%)
2. Pension that can be rollover to an IRA - 11k (Annual Fee 55 bucks & Fund expense fee 1%)
3. HSA - 13k due to investment growth, (Annual Fee 60 bucks & Fund expense fee 1.5%)
Invested during the 3 years.
4. Vanguard Traditional IRA (Target 2045)- 7k
5 Vanguard Roth IRA (Target 2045) - 3k
I stop by a Chase bank to upgrade my basic checking account and was basically let to a financial advisor who recommend their actively managed fund which he charged a 1.25% management fee into a 60% equity 40% Bond income growth fund, plus the fund own expense. He basically ask to look at what i was invested online through my account and proceed to tell me your not making as much as you should and lead me and fill out a final distribution online in my account by himself for my 401k and Pension right there and then. Proceed to open a brokerage account and had me signed the form required to directly transfer to that account.
I walked out and felt something was wrong right there. Give him a few call he didn't pick up. Also wondering why i would need to pay a 1.25% management fee for a 60% equity and 40% bond fund allocation. So i decided to cancel my final distribution through my 401k and pension myself.(Will still need to contact him once he realized the checks is not coming and tell him i don't think i need his services)
Now with that situtation it kept me thinking that i should rollover my 401k and pension to a cheaper Vanguard fund as my current expense for my fund in the 401k are around 1%.
1) Does anyone have any advice on what i should invest in through the IRA at Vanguard once i roll it over. As the 2045 Fund that i currently have are listed as being a fund that is under performing(Most Alarming 3-ALARM Funds) by the below website.
FundAlarm -- Most Alarming 3-ALARM Funds
2) Which Vanguard fund i should invest in and the % to get a good median aggressive allocation. Also heard that with 10k investment you can now invest in Admiral shares even lower expense ratios.
3) Also thinking about converting the Vanguard Traditional IRA with 7k into an Roth IRA. (thinking ahead, not sure if this is a good idea, wont mind the 7k hit to income between the two years) Good idea?
4) Any advice where i can transfer my HSA to a place with no fees and good investments choice?
Thanks everyone for any advice and help that you can offer