Author Topic: Vanguard retirement account for the biz  (Read 403 times)

TheCatWhisperer

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Vanguard retirement account for the biz
« on: January 31, 2018, 09:40:23 AM »
After 4 years of following MMM and having personal accounts through Vanguard, I finally decided to switch my business' Simple IRA over to Vanguard as well. It was something that I knew needed to happen because the fees were 2% (!!!), but it took awhile to get the courage to ditch the "advisor." Well, it's done and I must admit it felt so empowering to make this step. Hoping to convert to a 401k in the future to reduce my massive tax bill, but that's for another thread. :)

I don't think any of this would've happened with this website/forum.

jinga nation

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Re: Vanguard retirement account for the biz
« Reply #1 on: January 31, 2018, 09:56:09 AM »
I'm trying to convince my wife to ask her boss, the CFO, to do the same, GTFO of American Funds.

Can you provide a summary of how you accomplished the switch, any hurdles, gotchas, lessons learned?

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lexde

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Re: Vanguard retirement account for the biz
« Reply #2 on: January 31, 2018, 12:36:53 PM »
I'm trying to convince my wife to ask her boss, the CFO, to do the same, GTFO of American Funds.

Can you provide a summary of how you accomplished the switch, any hurdles, gotchas, lessons learned?

(I'd give you gold, but this isn't Reddit.)
Not to hijack the thread, but my employer uses American Funds as well. If you get anything together to show them, would you mind sharing? Our office admin executive retires in March and I think that would be a good time to propose a change.

TheCatWhisperer

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Re: Vanguard retirement account for the biz
« Reply #3 on: February 01, 2018, 01:33:54 PM »
I'm trying to convince my wife to ask her boss, the CFO, to do the same, GTFO of American Funds.

Can you provide a summary of how you accomplished the switch, any hurdles, gotchas, lessons learned?

(I'd give you gold, but this isn't Reddit.)

Yeah, American Funds is so expensive. That's who I'm leaving.

The process to start a new account with Vanguard was very easy. My CPA helped get the initial paperwork set up. We had to start this back in October to be ready for January, so that ample notice was given to employees. After the account was created, everyone received and email from Vanguard to set up their individual accounts. Then all I do is log in and move funds as requested by employees at payroll.

So far there haven't been any hurdles or gotchas. I'm assuming the money from American Funds will be easy to roll over into Vanguard, but I have an email out currently with my CPA just to be sure.