Investment question

[lucigo]

Where to go to learn about investing?

I have had money in a Smith Barney account for about 10 years, I'm not all that knowledgeable about it, but its an IRA and they invest it in different funds for me. Over the past year I have noticed the fees have really gotten high. When I called the man told me the fees are because I have less than $25K in there.

When I called my local bank they said they have IRAs, but that they aren't invested in funds, they just draw a fixed amount.

How do I find out if its worth the high fees to leave it in these funds or is there somewhere else that would still earn higher return without large fees?

 

[sdzman]

You can start with checking with your local bank, they can show you all their IRA fees and they will even handle the transfer if you choose to switch your IRA over to them.

If you bank with a large bank, check with a local credit union in your area. They usually have much more favorable rates and lower fees. I also find them much more friendly and willing to explain and spend time with us.

 

[QVCshopper]

I would go with Vanguard; they are a low cost mutual fund company. They have many mutual funds with no loads, and some of the funds have lower initial investment amounts. Check out www.bogleheads.org for more info.

 

[lucigo]

You can start with checking with your local bank, they can show you all their IRA fees and they will even handle the transfer if you choose to switch your IRA over to them.

If you bank with a large bank, check with a local credit union in your area. They usually have much more favorable rates and lower fees. I also find them much more friendly and willing to explain and spend time with us.

I went to Navy Federal, I guess I need to try some other banks. Thanks!

 

[Sbacer]

I have Vanguard- DH has Tiaa-Cref both are noted for having low fees. Vanguard is all over the phone or computer- Tiaa-Cref has a local office near our town so DH feels better about that. Be careful and read- read - read lots of smooth talkers out there!