How are my Rate of Return in my Roth IRA?

[F.I.R.E User]

WADR, how does that make any difference? It was not EJ. It was a regional broker based in NJ that specialized in muni bonds. They cold called me with a pretty good new offering muni for my home state. At the time I was just starting to do research on munis so their timing was impeccable (aka lucky). I had probably given them my contact info at some point. I was assigned a specific rep but he just seemed like a junior trainee in a boiler room operation. When they had bonds to push they called me up but didn’t even bother to leave a message if I I didn’t pick up. The kid lacked basic sales training and they never had any bonds nearly as good as that first purchase. It was like a one trick pony (muni bonds) although they claimed to be going full service. Trying to get a beneficiary designated was like pulling teeth. I could sense his contempt for Fido over the phone. I left after two years. The xfer fee was $200 on a $25k account.

Do you really already have a Fido account? You should call them and get to know their website. Unless you are a troll.

Fidelity account since 2007 with my employer and also have ESPP in it.

 

[F.I.R.E User]

Certifications are nice but mean little other than somebody passed a test. I've had CFPs try to annutize all my assets because "it would be good for me". No it would be good for them. Look around you'll see many people who aren't willing to do the right thing sell out their certification/license for money.

Little fact about Fast Eddie's organization, it's like a pyramid scheme; if you're not pushing enough $$ for your boss you are history. There's negative rewards for being honest and doing what is right for the investor.

Yeah, so far I’ve heard to stay away from EJ. There was like 1 person who recommended it.

 

[F.I.R.E User]

They don't have to be disreputable to be a poor value. In general, by the time they lay on advisory fees, fund expenses, transaction fees, fees to to third party funds and whatever else they can dream up, the fees will add up to 2-3%/year. I think you said this was mid six figures, so around $10,000-$15,000 in fees every year whether they achieved their stated goals or not. That's enough to buy a new car every 2-3 years if you learn to do it yourself and if you read the thread you will see it's not hard to do.

On top of that, research has proven over and over that beating the market is just luck, the advisor doesn't add enough insight to pay for the fees. So the strong recommendation of everyone here is get rid of advisors and do it yourself.

Started with 5.75% front load and now it’s 3.75%. It is still high. Expense is high too compare to Vanguard. One fund is over 1% expense.

 

[F.I.R.E User]

Is there some reason why you can’t use your brothers FA, or at least speak with him about your concerns? Are your brother’s investments/performance similar to yours? This makes less and less sense the more I hear.

My brother’s FA is same as me at EJ. I don’t know about his investment at EJ.

 

[jazz4cash]

My brother’s FA is same as me at EJ. I don’t know about his investment at EJ.

So, you seem to be dissatisfied with your FA at EJ and after many posts casually add that your brother is happy with HIS advisor at EJ WITHOUT mentioning that it is the same individual? That seems....odd. I’m putting this thread on ignore. Good luck to you.

 

[F.I.R.E User]

So, you seem to be dissatisfied with your FA at EJ and after many posts casually add that your brother is happy with HIS advisor at EJ WITHOUT mentioning that it is the same individual? That seems....odd. I’m putting this thread on ignore. Good luck to you.

I was just answering your question. My brother is happy but I will go to Vanguard. Sorry, for the lack of detailed info.

 

[F.I.R.E User]

Looks like $95 termination fee with EJ and $40 closing fee.

 

[F.I.R.E User]

Update: Fido will credit me $135 fees from EJ. Vanguard won’t.

 

[F.I.R.E User]

I opened the Roth IRA at Fidelity but my concern is this:

The transfer is not a taxable event and will not be reported to the IRS. If you are transferring the assets from your qualified retirement plan(s) to the Fidelity Retirement Plan, contact your tax advisor to determine if it is necessary to file Form 5310-A prior to the transfer.

Do I need to file Form 5310-A?

 

[target2019]

I opened the Roth IRA at Fidelity but my concern is this:

The transfer is not a taxable event and will not be reported to the IRS. If you are transferring the assets from your qualified retirement plan(s) to the Fidelity Retirement Plan, contact your tax advisor to determine if it is necessary to file Form 5310-A prior to the transfer.

Do I need to file Form 5310-A?

Who is your tax advisor? That would be the correct person to ask.

To me it appears you do not have to file.
https://www.irs.gov/forms-pubs/about-form-5310-a

But I am not your tax advisor. Keep that in mind.

 

[F.I.R.E User]

Who is your tax advisor? That would be the correct person to ask.

To me it appears you do not have to file.
https://www.irs.gov/forms-pubs/about-form-5310-a

But I am not your tax advisor. Keep that in mind.

I did read the IRS form. I wasn’t sure.

 

[F.I.R.E User]

I have started the TOA.

 

[F.I.R.E User]

Looks like TOA completed but all I see is exact shares and American Funds that I was invested in at EJ.

No dollar amount.

How do I sell everything and buy FZROZ. Balance is $141K+. This would mean I would have to use the entire $141K+ to purchase FZROZ right?

 

[target2019]

Looks like TOA completed but all I see is exact shares and American Funds that I was invested in at EJ.

No dollar amount.

How do I sell everything and buy FZROZ. Balance is $141K+. This would mean I would have to use the entire $141K+ to purchase FZROZ right?

FZROZ is not a vaild symbol. Do you mean FZROX?

 

[F.I.R.E User]

fzroz is not a vaild symbol. Do you mean fzrox?

fzrox.

 

[F.I.R.E User]

It took a day to update. I see the dollar amount now.

 

[F.I.R.E User]

Time to sell all my AF’s and buy FZROX. Should I buy in lumpsum?

 

[F.I.R.E User]

Why is the price of FZROX vs FSKAX way different?

 

[Out-to-Lunch]

Why is the price of FZROX vs FSKAX way different?

The price per share is not really relevant to anything. You could own 100 shares at $40/share of one fund, or 400 shares at $10/share of another fund, and still be in the same financial position.

But, to answer your question more directly, it is probably because FSKAX is 10 years older, and has had more time for its NAV to increase.

 

[F.I.R.E User]

The price per share is not really relevant to anything. You could own 100 shares at $40/share of one fund, or 400 shares at $10/share of another fund, and still be in the same financial position.

But, to answer your question more directly, it is probably because FSKAX is 10 years older, and has had more time for its NAV to increase.

Oh ok.

 

[F.I.R.E User]

8 different MF from EJ was transferred to Fidelity in my Roth IRA. Do I have to select all shares for each fund and sell or can I do it all at once? Once it sells, does it all become cash?

 

[pb4uski]

Call Fidelity to find out. WADR, this Chinese water torture of elementary questions is becoming a bit annoying.

You can sell whatever you want and it becomes cash (aka settlement account)... what did you think it would become?

 

[F.I.R.E User]

Call Fidelity to find out. WADR, this Chinese water torture of elementary questions is becoming a bit annoying.

You can sell whatever you want and it becomes cash (aka settlement account)... what did you think it would become?

I just did and the rep said that I would have to do 8 different transactions to sell all the shares in all my AF which is 8. Then, it will go into my money market account as cash. Then, I can buy FZROX. I wanted to be sure I was going to do it correctly and also to avoid taxes/fees, etc.

 

[F.I.R.E User]

Looks like my funds will settle tomorrow as cash around $142k. I am looking to going all in on FZROX in my Roth IRA at Fidelity. Thoughts? I was told not to buy in increments.

 

[F.I.R.E User]

I used the Fidelity mobile app to go all on on FZROX at $142k just now. I was nervous. Hope I made the right move. The cash was settled in my Roth IRA money market account.