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Alright guys,
I've taken some advice from you guys in my earlier post and now I'm ready to lay down some serious money (serious to me, that is). I'm planning on opening either a Fidelity or Vanguard Roth IRA with the 2007 max contribution of $4,000 (maybe I'll try and match the 2008 max sometime later this year). Somewhat leaning towards a Vanguard Roth because the expense ratios are cheaper for their index funds (in particular their Target Retirement 2050 fund) and I'm planning on rolling over my job's 401(k) into a Fidelity IRA sometime later this summer, when I'll be leaving my job for school. This way, I'll have the best of both worlds, so to speak, with both tax-deffered and tax-free investments and Vanguard's lower expenses and Fidelity's Customer Service.
I want to just make a lump sum payment every year into my Roth IRA and basically "Set-it and forget-it" until next year (I'm sure I'll have a job to count as earned income). I was looking for advice on specific expenses/fees I should look out for with Vanguard and Fidelity. I'm aware of individual funds' expense ratios, loads, and 12-b fees, but I'm talking about actual fees relating to opening and holding an account with Fidelity and Vanguard respectively. I've gone onto their website and download their fee schedules but I was wondering if you guys have been hit with fees you didn't expect and want others to be aware of. For example, I recently found out Vanguard charges a fee for investment under $10,000, but if you sign-up for electronic mailings, the fee is eliminated.
Are there inactivity fees associated with either of these institutions? Minimums? Asset allocation fees? Any B.S. fees I can knowingly avoid?
Please let me know...
I've taken some advice from you guys in my earlier post and now I'm ready to lay down some serious money (serious to me, that is). I'm planning on opening either a Fidelity or Vanguard Roth IRA with the 2007 max contribution of $4,000 (maybe I'll try and match the 2008 max sometime later this year). Somewhat leaning towards a Vanguard Roth because the expense ratios are cheaper for their index funds (in particular their Target Retirement 2050 fund) and I'm planning on rolling over my job's 401(k) into a Fidelity IRA sometime later this summer, when I'll be leaving my job for school. This way, I'll have the best of both worlds, so to speak, with both tax-deffered and tax-free investments and Vanguard's lower expenses and Fidelity's Customer Service.
I want to just make a lump sum payment every year into my Roth IRA and basically "Set-it and forget-it" until next year (I'm sure I'll have a job to count as earned income). I was looking for advice on specific expenses/fees I should look out for with Vanguard and Fidelity. I'm aware of individual funds' expense ratios, loads, and 12-b fees, but I'm talking about actual fees relating to opening and holding an account with Fidelity and Vanguard respectively. I've gone onto their website and download their fee schedules but I was wondering if you guys have been hit with fees you didn't expect and want others to be aware of. For example, I recently found out Vanguard charges a fee for investment under $10,000, but if you sign-up for electronic mailings, the fee is eliminated.
Are there inactivity fees associated with either of these institutions? Minimums? Asset allocation fees? Any B.S. fees I can knowingly avoid?
Please let me know...
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