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Old 10-26-2020, 05:09 PM   #21
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The favorites around here seem to be Vanguard, Fidelity and Schwab.
For what type of accounts?
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Old 10-26-2020, 05:11 PM   #22
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+1 We use Schwab, but @F.I.R.E User since you already have an account at VG, I'd suggest that you go there.

Getting it done is easy. VG will have you fill out a form directing Fast Eddie to transfer your assets. Then VG will get it done. No need to ever talk to Eddie again. Eddie will charge you a transfer fee; ask VG if they will cover it for you. Many brokers will.

You can either transfer "in-kind," which just transfers the assets currently in your account or you can direct Eddie to sell everything and give you the cash. From what I hear about Eddie's fees I would suggest taking the in-kind option even if you sell after the assets get to VG.
How does the system sell the funds at EJ and buys at VG?
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Old 10-26-2020, 05:35 PM   #23
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if you move the funds to CS - ask for the cash bonus offer for opening a new account. You might get as much as $500.

The link below is for a friend referral, but you should ask the agent if you can qualify:
https://www.schwab.com/public/schwab...-prospect.html
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Old 10-26-2020, 05:48 PM   #24
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if you move the funds to CS - ask for the cash bonus offer for opening a new account. You might get as much as $500.

The link below is for a friend referral, but you should ask the agent if you can qualify:
https://www.schwab.com/public/schwab...-prospect.html
Thanks.
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Old 10-26-2020, 08:10 PM   #25
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For what type of accounts?
All three, Vanguard, Fidelity and Schwab offer all kinds of accounts... including Roth IRAs that you would be moving from Fast Eddie Jones.

Quote:
Originally Posted by F.I.R.E User View Post
How does the system sell the funds at EJ and buys at VG?
Not sure what you're asking.

But one way to transfer is to sell all funds in the EJ Roth account (convert the total account to cash) and then have the cash transferred to a new Roth IRA at Vanguard, Fidelity or Schwab... then invest the cash in the funds of your choice.

The other way is to transfer the investments in your EJ Roth IRA to your new Vanguard, Fidelity or Schwab IRA "in-kind".... they just transfer the shares from the old custodian to the new custodian.

The new custodian can help you with this and explain your options.
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Old 10-26-2020, 10:29 PM   #26
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All three, Vanguard, Fidelity and Schwab offer all kinds of accounts... including Roth IRAs that you would be moving from Fast Eddie Jones.



Not sure what you're asking.

But one way to transfer is to sell all funds in the EJ Roth account (convert the total account to cash) and then have the cash transferred to a new Roth IRA at Vanguard, Fidelity or Schwab... then invest the cash in the funds of your choice.

The other way is to transfer the investments in your EJ Roth IRA to your new Vanguard, Fidelity or Schwab IRA "in-kind".... they just transfer the shares from the old custodian to the new custodian.

The new custodian can help you with this and explain your options.
The problem is which funds would I choose say if I go to Vanguard since I have multiple MFs at EJ for my Roth IRA and FA manages that.
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Old 10-27-2020, 06:21 AM   #27
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You're overthinking it. Depending on the funds that you hold at EJ, you might be able to buy the exact same funds at Vanguard. If not, Vanguard will have similar funds to what you have. Talk with Vanguard... they'll guide you.

Actually, giving that your Roth is 27% of your total investments a single broad based domestic equities fund would probably be a-ok.... there is no need for multiple or numerous funds in a Roth IRA that is 27% of the total.
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Old 10-27-2020, 07:20 AM   #28
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Is it possible, yes, is it probable ..my crystal ball is fuzzy.

I had to look up my numbers because yours seemed similar to where I was at one point. So I was at $414k YE2006 and $1.1M YE2014, so in 8 years mine grew sufficiently enough that yes depending on what your target WR is, it is may be feasible if your $30-40k is realistic.

However to note, I did time the market, had some great luck, and entered into a record stock market...thus your results may differ greatly.
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Old 10-27-2020, 07:38 AM   #29
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You're overthinking it. Depending on the funds that you hold at EJ, you might be able to buy the exact same funds at Vanguard. If not, Vanguard will have similar funds to what you have. Talk with Vanguard... they'll guide you.

Actually, giving that your Roth is 27% of your total investments a single broad based domestic equities fund would probably be a-ok.... there is no need for multiple or numerous funds in a Roth IRA that is 27% of the total.
Something like VTSAX?
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Old 10-27-2020, 09:30 AM   #30
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Yes.... it was one of my core holdings for years.
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Old 10-27-2020, 09:36 AM   #31
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How does the system sell the funds at EJ and buys at VG?
It's pretty simple in normal situations.

There are no physical assets here. There is a central database that we don't hear much about and I have forgotten the company name, but each of your assets is listed with you as owner and your broker as holding the asset for you in a specific account. The "transfer" is simply a bookkeeping entry to change the broker name and account.

With Fast Eddie, things may not be quite normal. First I have heard that they are slow to transfer. Somewhere in the middle of that you might hear from your FA, trying to talk you out of taking the assets. Ignore that. Fees look like $95: https://www.edwardjones.com/images/b...le-of-fees.pdf Ask your receiving broker to pay the fee.

Second, if they are told to sell the assets they will probably charge fees to do that. Maybe high fees, I don't know. So I suggest transferring in kind, to avoid this risk. Here is a somewhat breathtaking fee schedule I found: https://www.edwardjones.com/images/ETY-1714E-A-MA.pdf though it may be out of date. I believe that neither Vanguard nor Schwab charge trading fees any more.

Third, they might have sold you assets that cannot be transferred/proprietary to Eddie. They got their hooks into a friend of mine several years ago and he ended up owning four (!) annuities, only one of which could be transferred. Your rep at VG or Schwab may be able to help you if you are in a situation like this, but my friend was unable to escape.

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The problem is which funds would I choose say if I go to Vanguard since I have multiple MFs at EJ for my Roth IRA and FA manages that.
Take @pb4's good advice. The funds that Eddie chose are likely to be high fee, hence poor performers, and there is no reason to have a lot of different funds anyway.

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Something like VTSAX?
Yes. This one would be a good place to start. @pb4 and I differ slightly on strategy. I think he would say to start and stop with VTSAX. I am a believer in holding non-US stocks, so I would suggest that you season to taste with VGTSX somewhere down the road.
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Old 10-27-2020, 09:46 AM   #32
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.... @pb4 and I differ slightly on strategy. I think he would say to start and stop with VTSAX. I am a believer in holding non-US stocks, so I would suggest that you season to taste with VGTSX somewhere down the road.
Fair statement.
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Old 10-27-2020, 10:14 AM   #33
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Wrong ticker. VGTSX is the Total International Stock fund. None of this applies.
Oops. I deleted my post.

OP should still do their own research on recommendations--and also make sure to not use the wrong ticker symbol like I did!
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Old 10-27-2020, 10:15 AM   #34
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I live in low COL area so inflation should not matter much right? There are coupons and bargains for everything nowadays.
Inflation hits everything.
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Can I F.I.R.E in 8 years?
Old 10-27-2020, 11:46 AM   #35
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Can I F.I.R.E in 8 years?

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Until you are 59 1/2 the only thing you can withdraw from your Roth penalty free are contributions or conversions that are 5 years or more old. Also, you can't do rule of 55 for your 401k unless you leave service in the year that you turn 55 and you plan to leave at 50, so that doesn't work.

These are very significant. Getting to your money without having to pay penalties on it is key. I hate the idea of giving away money I worked so hard for.

Whatever age you choose to retire at, you will need x years of cash available to get to 59.5. Or you have to stay at work till age 55 to use the rule of 55.

One thought is to stop contributing to 401k at all now... so you have the money available when you want to retire. However, that is years of company matching you loose if you do that.

I have had a ROTH IRA for almost a decade. I am allowed to withdraw all of my personal contributions to that account at any age. Including rolling over my current ROTH 401k into it when I choose to retire. (Just my personal contribution though). I think I should have enough personal contributions in the ROTH IRA by the time I am 55 to get me to 59.5 when there is no penalty any more...

And just a minor point. The ROTH IRA account has to exist for a least 5 years. As long as that is met... you can get personal contributions out at any time. Even if you just put money in there today.
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Old 10-27-2020, 12:55 PM   #36
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Yes.... it was one of my core holdings for years.
I have VTSAX for my taxable account.
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