I have a IRA with New York Life through my employer.
After ten years I have finally started to learn enough (thanks to you guys and this site) to be dangerous :). I have learned that the fund I was in has a 0.97% expense ratio!
WHoa! I know. And all these years they were spouting off their great low fee funds they negotiated.
So after reading here I have discovered Vanguard with IRA ER averages of .18%. So when I did the math with my numbers; I would end up paying roughly $100k more in fees over 30 year span.
I have about $25k I can transfer now (they only allow us to take a certain amount out at a time) and I will slowly transfer all that I can over time to another low fee account.
Looks like I can do IRA transfers. Twice per year from New York Life.
I do not want to start a war here.... BUT can you give me some guidance on some options?
Are there other companies that would be better options for a IRA?
If Vanguard is the best option.. what fund to get started in?
https://investor.vanguard.com/mutual-funds/vanguard-mutual-funds-listShould I transfer into a bond fund like VBLTX.. and as the market comes down start adding stocks?
Or just get into a target date fund.. or life strategy....etc..