Author Topic: Should i move my Roth IRA from Fidelity to Vangaurd  (Read 605 times)

glong82gk

  • 5 O'Clock Shadow
  • *
  • Posts: 4
Should i move my Roth IRA from Fidelity to Vangaurd
« on: August 03, 2018, 11:56:37 AM »
I have a roth with fidelity with about 43,000 in it right now. Its all in a total market index fund called FSTVX. I was thinking about moving it to Vanguard and put into VTSAX to save money in the long run of the account. What say you ? Would it be worth the trouble ?

Catbert

  • Handlebar Stache
  • *****
  • Posts: 1686
  • Location: Southern California
Re: Should i move my Roth IRA from Fidelity to Vangaurd
« Reply #1 on: August 03, 2018, 11:58:55 AM »
Not worth the trouble.  Expense ratios are pretty much the same was equivalent Vanguard funds.

terran

  • Handlebar Stache
  • *****
  • Posts: 1951
Re: Should i move my Roth IRA from Fidelity to Vangaurd
« Reply #2 on: August 03, 2018, 12:00:57 PM »
I have everything at Fidelity because my solo 401(k) is there and my wife's workplace plan is there. It's basically the same as Vanguard. If our workplace plans were at Vanguard I'd move everything there. I guess my point is, I wouldn't worry about it unless it will simplify your financial life.

glong82gk

  • 5 O'Clock Shadow
  • *
  • Posts: 4
Re: Should i move my Roth IRA from Fidelity to Vangaurd
« Reply #3 on: August 03, 2018, 12:05:54 PM »
Noted...thanks for the advice...I do have a brokerage account with Vanguard so it would simplify my financial life a bit...

Jrr85

  • Handlebar Stache
  • *****
  • Posts: 1204
Re: Should i move my Roth IRA from Fidelity to Vangaurd
« Reply #4 on: August 03, 2018, 12:18:34 PM »
I have a roth with fidelity with about 43,000 in it right now. Its all in a total market index fund called FSTVX. I was thinking about moving it to Vanguard and put into VTSAX to save money in the long run of the account. What say you ? Would it be worth the trouble ?

Isn't Fidelity actually cheaper now?  I was thinking they had undercut Vanguard slightly a year or so ago, and are now talking about rolling out some zero cost index funds or something?

If you're looking at being locked in for 10-20 years and having tax consequences if you try to transfer, then maybe I'd be more comfortable with Vanguard's  culture.  But if it's tax advantaged and your only exposure would be the transaction costs?  I'd probably go with whatever is cheapest now.   

MDM

  • Walrus Stache
  • *******
  • Posts: 9413
Re: Should i move my Roth IRA from Fidelity to Vangaurd
« Reply #5 on: August 03, 2018, 01:39:24 PM »
I have a roth with fidelity with about 43,000 in it right now. Its all in a total market index fund called FSTVX. I was thinking about moving it to Vanguard and put into VTSAX to save money in the long run of the account. What say you ? Would it be worth the trouble ?
Probably not, but if you do it's nice that Fidelity eliminated $50 IRA closeout fee.

DealingWithDreams

  • 5 O'Clock Shadow
  • *
  • Posts: 37
Re: Should i move my Roth IRA from Fidelity to Vangaurd
« Reply #6 on: August 03, 2018, 04:35:42 PM »
how much are you guys paying in fees? is there an annual fee? I have an IRA through a bank and they are charging a 100 annual fee...

terran

  • Handlebar Stache
  • *****
  • Posts: 1951
Re: Should i move my Roth IRA from Fidelity to Vangaurd
« Reply #7 on: August 03, 2018, 04:45:05 PM »
how much are you guys paying in fees? is there an annual fee? I have an IRA through a bank and they are charging a 100 annual fee...

That's messed up. IRA's shouldn't cost money. The worse part could very well be the expense ratio's you're paying on the funds. Switch to Vanguard, Fidelity, or Schwab and be done with those crooks.