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Transfer Roth IRA and Sell Shares Towards Different Fund

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  • Avatar mathewjm 
    Participant
    Status: Physician
    Posts: 1
    Joined: 05/10/2019
    Disability Insurance

    Hello All,

    I made a dumb mistake in that when i was in residency, I put my ROTH IRA funds into USAA mutual funds. They have okay performance but horrible fees. I’m glad that at least at that age I was investing, but it just wasnt in the best place IMO. I would like to consolidate my roth IRA from USAA to my current at Fidelity and exchange the shares from the USAA funds to vanguard (or anything else honestly). I could not find out the fees associated with this. My question is: should i suck up the poor investment choice and just let that specific roth ride itself out and focus on my new one or should I bite the bullet and transfer it and exchange, knowing their are associated fees

    #213698 Reply
    Avatar Peds 
    Participant
    Status: Physician
    Posts: 3614
    Joined: 01/08/2016

    Transfer.

    If at fidelity buy fidelity funds. If you want Vanguard, move to Vanguard.

    #213706 Reply
    Dreamgiver Dreamgiver 
    Participant
    Status: Physician
    Posts: 733
    Joined: 03/09/2017

    Transfer directly from Roth to Roth. Do not get a check made in your name. No fees for transferring. The. Buy whatever investment you want with it

    #213715 Reply
    Avatar jacoavlu 
    Moderator
    Status: Physician, Small Business Owner
    Posts: 1848
    Joined: 03/01/2018

    Just call Fidelity and tell them you want to rollover a Roth IRA. They’ll make it easy. Vanguard would do the same.

    The Finance Buff's solo 401k contribution spreadsheet: https://goo.gl/6cZKVA

    #213718 Reply
    Liked by Hank, Lordosis

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