Author Topic: Save money on your SIMPLE IRA!  (Read 1181 times)

Joel

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Save money on your SIMPLE IRA!
« on: July 07, 2014, 11:19:57 PM »
I've helped my Dad change a significant chunk of money going forward by moving his SIMPLE IRA from American Funds to Vanguard. All you need to do is make sure that your account is a 5304 SIMPLE IRA, and you can switch to another financial institution. If however, the plan is a 5305 SIMPLE IRA, you cannot switch.

Needless to say the American Funds had a 2.5% sales charge on the front end, approx. 1% management expense ratios, $10 annual fee, terrible fund offerings, and a terrible website over to a Vanguard account that will be invested in the VTSAX with a 0.05% expense ratio.

HairyUpperLip

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Re: Save money on your SIMPLE IRA!
« Reply #1 on: July 08, 2014, 11:20:04 AM »
Nice man - Dad owes you a beer.