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The Money Mustache Community
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TIRA question
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Topic: TIRA question (Read 2753 times)
Guizmo
Bristles
Posts: 272
TIRA question
«
on:
July 02, 2014, 12:15:12 PM »
Hi all,
I have a Roth IRA with 3kish in the Total Market Index and another 3kish in the Wellington fund. I want to open up a Trad IRA.
Do I need 3k to put in the Total Market in the new TIRA?
Thanks!
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Cheddar Stacker
Magnum Stache
Posts: 3700
Age: 45
Location: USA
Re: TIRA question
«
Reply #1 on:
July 02, 2014, 01:09:07 PM »
Do you mean $3K to meet the minimum requirement for that fund at Vanguard? If so, I don't know the answer because I don't have experience with that, but I'm a little confused by the question.
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bikebum
Pencil Stache
Posts: 562
Location: Nor Cal
Re: TIRA question
«
Reply #2 on:
July 02, 2014, 01:19:23 PM »
With Vanguard, you still have to meet the fund minimum
for each account
, even if you already have the fund in another account. So you still have that $3,000 minimum for the total stock index in the T-IRA. I know because I had the same thing come up and asked them about it.
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Guizmo
Bristles
Posts: 272
Re: TIRA question
«
Reply #3 on:
July 02, 2014, 04:24:57 PM »
Thanks BikeBum. Guess I'll have to save the 3k fund minimum to open the Traditional IRA.
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bikebum
Pencil Stache
Posts: 562
Location: Nor Cal
Re: TIRA question
«
Reply #4 on:
July 02, 2014, 05:46:27 PM »
No problem Guizmo.
You can pick a fund with a $1,000 minimum, like one of the Target Retirement Funds, then move it to the Total Stock once you have $3,000 in there. That's what I did.
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TIRA question