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Strategies & Market Trends : Dividend investing for retirement
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To: temco2 who wrote (34300)11/24/2024 10:49:53 AM
From: Thehammer2 Recommendations

Recommended By
Kip S
temco2

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A 401k is a different animal from an IRA although they functionally are similar.

The fees for maintaining the 401k will not exist if you transfer it to an IRA at another firm. Some firms charge a fee for IRA accounts but often waive it for large accounts. They may have a host of other fees though for other services.

Any EFT's or derivative investment within the IRA will charge a management fee for running the fund. Always good to understand this before you invest.

Many brokerage firms will baby sit the process for transferring assets from a 401k to their IRA. The process is called ACATS. There are industry mandates on how quickly the old firm must deliver the assets to the new firm (I think 3 days) . Merrill may charge a fee for doing this, but the new firm may absorb it if you ask.

You implied a self-directed IRA in that you decide the investments but there are also managed accounts were the firm will manage (or utilize an outside management company) to direct the investments. They definitely do charge a fee for this.

Good luck!
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