Photo by: gerrietWe hear all this talk about how the “Feds are lowing rates again today” on the news a lot recently, and that we’re falling into a recession. But what does all that mean? How does that help me in the situation I’m in? What do I do now as far as investing?Well, to put it simply, when the feds lower federal fund rate, it reduces what it costs banks to borrow money from them. When the banks costs go down, banks typically trim rates for consumers and business borrowers. That encourages businesses to expand and households to spend. Homeowners with adjustable mortgages and consumers with credit cards linked to the prime rate often see their rates move down, which is good.

Why is The Fed pushing rates down hard and fast?

Because the government is seeing a danger that troubles them. The housing market could create a downward spiral that would do widespread damage to consumers and businesses. The main problem comes from several things that get started when home prices start the fall. When home prices fall, it inherently fosters large numbers of foreclosures. That throws a bigger supply of houses onto the market, which in turn push prices down further.

Another problem happens when falling home prices force banks and other lenders to take losses on housing-related investments. They certainly don’t want that because it takes a bite out of their capital and reduces the amount of money they have to lend. That in turn makes it harder for home buyers to borrow, and lending banks to lend. If this housing problem continued for an extended period of time, the damage to banks and consumers could become so profound that the economy plunges into a recession the likes of which we don’t want to see.

How is the government planning on fixing this?

Well, they’ve hacked the interest rate 1.25% over the last 11 days. With this drop in interest rates, combined with a stimulus package from Congress, the hope is that they can stave off the looming recession, which isn’t fun. The goal of doing this isn’t pretty in the short term, but it can significantly limit the damage and keep things from falling into the ocean.

So do I want the Feds to cut interest rates or not?

Well, if you are a homeowners with an adjustable-rate mortgages, you like it. If you have an adjustable rate home equity loans, you like it. If you are a homeowners with a good credit rating and can refinance at lower rates, you like it. If you are a business with a loan tied to the prime Fed rate, you like it. However, if you are investing in CD tied to the prime rate, you DON’T like it. If you have a money market account, which is likely tied to that rate at which banks can borrow, you DON’T like it. If you have a savings account at a bank, you DON’T like it.

Overall there are a lot of pieces to the pie, and a lot of people complain about the setup and what the government is doing, but that is what people do, they disagree a lot. You don’t have a lot of choice in the matter so make the best of it and take advantage of the lower priced stocks, and mutual funds you find when the economy is slow.

Related posts:

1. When The Federal Prime Rate Drops, Some People Are Happy, But The Dollar Weakens; What Happens Then?
2. Hanks Weekly Hangouts #20 (March 8, 2008)
3. Money Hacks Carnival #18 — The History Of Money!

Photo by: artct45If you’re between 20-40 years old, don’t do anything. Stay where you’re at, markets fluxuate. That is their nature and that should have been something you learned before you got it. If this is your first time hearing about it, don’t worry and more importantly, don’t run. Let the traders panic. That is their job. They’re pounding down 15 cups a coffee per day and enjoy the stress. Let them deal with it. You’re paying a person that the traders are relaying information to in your mutual funds. You’re 3rd tier on that – sit back and enjoy the cheap stocks you’re getting into.If you haven’t sold, you haven’t lost. Stick to your guns and don’t get scared out of the market, recessions happen. But they always come back. As long as you still have a job, you shouldn’t be worrying. If you HAVE lost your job, you should probably not be reading this blog, try this one.

Related posts:

1. Monthly Net Worth Update March 2008 (+2.42%)
2. Weekly Roundup #14 (January 26, 2008)
3. How Do I Plan To Reach My Investing Goals For Retirement?

Photo by: A Fighting FaithNo, I’m not talking about the ol’ “Bill Gates will send you money if you forward this email” spoof.  I am talking about Microsoft’s Usability Research team.  Clearly Microsoft has a lot of new products that need testing, and it can’t all be done in house; they need a larger audience of NON-Microsoft employees.  That’s where we come in.  Before you jump off this post because you think it is a tag to get you to buy Microsoft stuff, don’t!  I went over to the corporate office in Redmond, WA last week, took 45 mins worth of testing a new Windows Mobile product, gave my opinion, and walked out the door with a copy of Microsoft Office 2007 (currently on Amazon for 399.99).

I have no reason to use the product, so it’s likely going to find a home on Ebay.  But that works out to $533.32 an hour!  How about them apples?  Well worth my 45 minutes to roll over basic questions and give your opinion.

“But Hank,  I don’t have an ounce of technical savvy blood in my body.  How can I make any money off it?”

Easy answer – they don’t always want the experts to give the opinions on their products.  They want the entire gamut of people to test out their products; not just experts.  Toss your name out there, you never know if you’re what they are looking for.  It takes about 5 minutes to sign up and tell them what you do.

“Ok Hank it DOES sound like a good idea, but I don’t live anywhere near Redmond, WA.”

Again, no problem.  A lot of their questions can come over the phone, or through a web interface to test out and poll on certain product aspects.  Sign up and you may be pleasantly surprised what they can call you on.

“Fair enough, I’ll sign up; but what about tax-wise?  They’ve given me a gift?  Don’t I have to pay it on taxes?”

They’ll put your name in their database and send you out a 1099 form if your gifts are over $1000 for the year.  Currently the most expensive piece of software I saw on the list was Microsoft Visio 2007 at 559.99.  You can get calls back for as many of the items that you can qualify for.  I signed up in December and got my first call last month, so I guess we’ll see how many times they call.  Yea, they tax you, but the tax is only on free money.  You’ll probably pay $100 of your $1000 to Uncle Sam, and that’s not too bad.

Yes, they’ve been dubbed “the Evil Empire,” but as frugal guy, I don’t care who is giving out the money, I’m happy (and so should you) to take the gratuity for a short stint of my time and quick returns like that.  This new found cash is likely headed into my Charles Schwab ROTH IRA before the April 15 deadline.

Related posts:

1. Should I Go To College Or Graduate School To Make More Money?
2. Money Hacks Carnival #18 — The History Of Money!
3. 10 Things You Can Do To Make Extra Money While At Work

My brother mentioned setting my mother up with a reverse mortgage over the holiday break, so I thought I would do some research on what is was and if it was a good idea. I had heard of it before and I have a basic understanding of it, but I figured there had to be some sort of catch, as there always is, and there certainly are…

“The HECM FHA insured reverse mortgage can be used by senior homeowners age 62 and older to convert the equity in their home into monthly streams of income and/or a line of credit to be repaid when they no longer occupy the home. The loan, commonly known as HECM, is funded by a lending institution such as a mortgage lender, bank, credit union or savings and loan association. To assist the homeowner in making an informed decision of whether this program meets their needs, they are required to receive consumer education and counseling by a HUD-approved HECM counselor“

1. You need to be under the 62 year old age limit.
2. You need to own your property outright.
3. The house you’re reverse mortgaging needs to be your primary residence.
4. Needs to be a single family home, a 1-4 unit home, a manufactured home, or leased land; ( this just means that when they take your equity in your house out from under you, they need to have a good house to steal, who wants to steal a dump?
5. Reverse mortgage fees can be high, although the fees are often rolled into the loan and not paid upfront. A reverse mortgage can cost thousands more than a conventional mortgage.
6. It’s important to calculate the cost of a reverse mortgage against what you would gain, because once you enter a reverse mortgage agreement, the mortgage company essentially OWNS your home.
7. Reverse mortgages are often seen as a last resort if the homeowner needs cash and there are no other options. (Take this one the most seriously! Not only are you getting rid of the possible last piece of ground a person may own, but you’re betting their home on it.
8. What if you outlive your reverse-mortgage? I couldn’t find anything on this, but it is a valid point. What if you USE you last resort, and then you outlive it? I’d assume the bank then owns your house and kicks you out to go live elsewhere; which isn’t fun at 85 I bet.
9. To reduce their risk, lenders generally limit reverse mortgage loans to amounts that are below their estimate of the property’s full value; meaning that you’re going to get a lesser amount than your house is worth in the first place FURTHERING the idea that this should be a last resort.

Andrew Linden from Australia thinks they should be BANNED.

?Associate professor of economics at the University of Western Sydney Steve Keen, author of Debt Watch, calls them ”the most dangerous ‘innovation’ around in finance” and says any decline in house prices will see lenders and investors bearing significant risk of possible losses.

“I want them abolished. [They represent] a systemic danger to the banking system. [With reverse mortgages] the banks are building in an expectation of continued asset price inflation for the next 25 years,” Keen says.”

Can it work?  Yea, I suppose it can.  It sounds like most of the people don’t even qualify for them in the first place.  Some people just don’t find themselves in the right position to act on it in the first place after drudging through the pre-reqs.  Bottom line as with any investment, RESEARCH your options.  If it IS your last option, REALIZE that it is, and take the proper steps.  Bring along a trusted friend or family member to the consultation.  Most of us look at the reverse mortgage as a detriment to society and squeezing of our senior citizens, but really the lenders are just targeting another audience.  It may not be right for everyone, but to the select few that it is right for, the lenders have a right to advertise to them.

If you’re reading this blog and under the age of 50, well, you’re probably on the right path anyway if you’ve got a plan, at least educating yourself to get a better understanding of what is to come so you won’t make more bad decisions.  It is likely we won’t have to worry about that for ourselves, but if we have parents or loved ones that ARE in that situation, at least you’ll be able to answer/help them answer many of the questions that come up in the lending process.  Keep your eyes peeled and guard up and decide for yourself if it is a good decision.  Prepared financial decisions are usually the best kind to make…

Related posts:

1. Should I Use My 401k To Pay Off My Mortgage?
2. Is the federal government playing puppetmaster with your house price? Are they in cahoots with house value sites?
3. How To Deal With Property Taxes; To Wrap, Or Not To Wrap (In Your Mortgage).

A question as old as college I suppose. Colleges need to make money too! What better way to market it than to say you’re DEFINITELY make more money by attending it. Colleges have marketing departments also; they’re businesses just like Walmart and Macys. They’re in the game to make money. Do you NEED to go to one to make money? Some think you do.

But how about your specific job? Could you benefit in your current position from going to a place of higher education? Will that make you rich? I don’t know, I suppose it could, but it really depends on the person and what they’re driven by. There are several VERY wealthy people out there that didn’t need higher education and they made it, a few on the list include:

Richard Branson is an English entrepreneur, best known for his Virgin brand of over 360 companies. Branson’s first successful business venture was at age 15, when he published a magazine called Student. He then set up a record mail-order business in 1970. In 1971, he opened a chain of record stores, Virgin Records, now known as Virgin Megastores. At sixteen, Branson left school and moved to London, where he began his first successful business, Student magazine. When he was seventeen, he opened his first charity, the “Student Advisory Centre.”

Bill Gates is an American entrepreneur, software executive, philanthropist and chairman of Microsoft, the software company he founded with Paul Allen. During his career at Microsoft he has held the positions of CEO and chief software architect, and he remains the largest individual shareholder with more than 8% of the common stock. He enrolled at Harvard College in the fall of 1973 intending to get a pre-law degree,^[20] but did not have a definite study plan and eventually left without his degree.

Michael Dell is an American businessman and the founder and CEO of Dell, Inc. While at the University of Texas at Austin, he started a computer company called PC’s Limited in his room in Dobie Center. The company became successful enough that, with the help of an additional loan from his grandparents, Dell dropped out of college at the age of 19 to run PC’s Limited, which later became Dell Computer Corporation, then ultimately Dell Inc.

Walt Disney dropped out of high school at 16 to join the Army, but then was rejected there because he was too young, but went on to be arguably the most influential and successful cartoonists in history.

Debbi Fields was a 20 year old housewife with no business experience when she started Mrs. Fields Chocolate Chippery. Try to name someone else that has a better selling recipe for chocolate chip cookies. In 1969, Oakland Athletics owner Charles O. Finley introduced “ballgirls” (young girls who would sit in foul territory near the baselines to retrieve baseballs grounded foul by batters) to major league baseball. Debbi was one of the first ones he hired. She was paid five dollars an hour and would use the money to buy ingredients for what would become her famous cookies. She began her business in 1977 in Palo Alto, California, and since it has grown into over 650 retail bakeries in the United States and over 80 in 11 different countries. Fields began franchising in 1990, and, though she sold the business to an investment group in the early 1990s, she remains as the company’s spokesperson.

At the age of 16, Henry Ford left home for the nearby city of Detroit, Michigan, to work as an apprentice machinist, first with James F. Flower & Bros., and later with the Detroit Dry Dock Co. In 1882, he returned to Dearborn to work on the family farm and became adept at operating the Westinghouse portable steam engine. He later started Ford Motor Company to manufacture automobiles. Ford’s first major success, the Model T, allowed Ford to open a large factory and later start the assembly line production, revolutionalizing the auto-making industry.

One thing to note I found when crafting up this article is that my mindset changed while crafting it.  Initially I thought to myself, wow, these people that didn’t have an education really excelled; and that is a fact.  But think of the devils-advocate post on it.  How many people DID go to college and are wealthy billionaires now?  I bet that list is pages upon pages longer than this list – but nonetheless, the point of the article is that it IS possible to become wealthy by ditching the traditional school systems, so congratulations to those people that have…

Related posts:

1. Another Way To Make Money Online; Courtesy Of Microsoft…
2. A Book Review: High School Money by Don Silver – And Some Tips And Tricks With Your Money
3. How Can I Make More Money?

Photo by: dave mcmtSo I’ve done it – after debating for about 2 months and trying to convince myself that I DIDN’T make a bad investment in getting in on this, I’ve come to my senses. I admit it, I made a bad mistake 5 years ago to purchase my Hartford Life Universal Life Insurance policy. Over that 5 year period I was putting in $205.00 per month to be “invested” in ITHAX; not completely invested in it; honestly, I don’t know how invested I was in it. I straight out asked my agent “Is my investment based exactly on the ticker symbol ITHAX?” She responded back with,

“Well, not exactly. It is difficult to explain, but yes, some of your assets are in ITHAX, but we can’t tell exactly how many shares you own at any given time. Just wait for your monthly statement.”

Are you kidding me? First of all, I want to see my investment when I want to see my investment. We’re not in the 1980s anymore. I’m a GenX’er that has grown up with the internet. If I can’t see something online, that’s another hard strike against them.

Photo by: dave mcmt

Furthermore, how is that an “investment” then? Two terms to consider in insurance: SELLING and INVESTING. They are NOT the same word, and shouldn’t even be used in the same sentence generally. You are SOLD an insurance policy. You are not INVESTED in an insurance policy. They should be completely separate entities and treated as such in your net worth and balance sheets. You are SOLD car, home, and LIFE insurance. You INVEST in stocks, bonds, and mutual funds. Don’t get them confused.

Needless to say, she wasn’t completely happy with my choice to opt out of paying her salary each month. But they’ll be like that, they want you to stay in because you’re making them money. Take this number in. My $205/per month I was “investing” with her over the 5 year span made me about -$3,000. Yep, that’s right, that is a NEGATIVE number. I had put in $12,300 over 5 years, and my “investment” is worth $9,292 as of December 1, 2007. If that’s not a bad investment, I’m not sure what is.

I never took the Suze Orman view of Term Life insurance very seriously as for whatever reason I was under the spell of my insurance agent. My agent is a very nice lady; nothing against her (aside from taking my $) but she is just trying to make a living also – I have nothing wrong with that. But I’m out from under that umbrella now and am totally onboard with Suze and Dave Ramsey in the insurance piece.

Photo by: dave mcmt

CubeFarmer has pretty much written the exact same thing about their whole life policy. It’s crap, and Universal is similar. I can’t begin to explain how much I relate to the article. Almost to the “T”. I got in shortly after college because of relatives advice also, and here we are years later. One BIGGER caveat though is that the surrender charge is RIDICULOUS. My 9k investment, if cashed out now to find a new investment/insurance is going to take almost 4k in surrender charges!!! That’s almost HALF of my “investment” in there!

I’ve got an email in with her now inquiring about my options going forward and how to mitigate the surrender charge, but I’m pretty sure it’s similar to the Edward Jones ROTH IRA ladder structure, but stretched out over a longer period, which I believe is 15 years; one thing is for sure though, she’s not getting that $205 payment as soon as I find a decent term policy…

Related posts:

1. Is Investing In Life Insurance Really “Investing”?
2. Does My Beneficiary Have To Pay Taxes On My Life Insurance Policy When I Die?
3. Should I Buy a Loaded Mutual Fund?

Photo by: emdot

Only 0 days 5 hours 2 minutes left until Hanks Holiday Handout drawing!

To make my goal of having my net worth be $1,000,000USD by 2020 I need to have a plan laid out. Yes it will change through the years, My wife and I will get raises; we won’t get the return we’re shooting for with investments in some of the years, but as a base goal if we take our current principal of $75,000 and continue to invest $21,500 per year for the next 13 and that will put us just over the 1MIL mark. That first MIL is the hardest, Pinyo lays it out here.

Where do I find $21,500 per year to invest? We’re currently contributing 10% of each our salaries for about $16,000 per year to our 401k plans, then add in $4,000 each for our ROTH IRA accounts and we’re well over the limit there. We’re planning on bumps in the road, so that’s why I’m giving the $21,500 number. There are a lot of calculations that need to taken into account, but that is the same with any investment plan. At 10% return with those calculations we’re looking at just under 840k, and at 12% that puts us over the 1MIL mark.

We could have a year where we can’t pay contributions to either our 401k or ROTH, but on the same note, there could be years where we’d contribute MORE to those accounts, For instance, we’re planning on trying to bump the 401k contributions up to 15% in 2008 and that would be $24,000 in itself; add in the ROTH IRA contributions and we’re looking at $32,000 invested per year and in 13 years, that will be worth 1.33MIL.

Numbers are numbers – sticking to the path of just getting money in is the key. In 13 years I’ll still be nowhere near retirement, but the first million is always the hardest to make, after that, it is quite ridiculous how fast it grows. In 35 years on this same $21,500 per year at 10% return we’re looking at 8.5MIL. Which is dreaming, and a lot can happen in 35 years, but there is no time like the present to start planning on it!

Time, as usual, is the key piece of this financial pie; variables are always tossed in to make it interesting. As long as we’re putting in the $21,500 we’ll be on a good pace. I’m sure there will be other investment opportunities, more job promotions, more raises, maybe more kids, but staying on this basic path is the key to our specific financial goal. What’s your path?

Related posts:

1. How Much Should I Save Per Paycheck To Reach My Retirement Goals?
2. Shifting Your Investing Mindset During A Recession
3. Weekly Roundup #12 (January 12, 2008)

Only 5 days 5 hours 02 minutes left until Hanks Holiday Handout drawing!

Hank – I have a few “target date” mutual funds in my 401k plan from Fidelity. They are:
Fidelity Freedom 2010 FFFCX
Fidelity Freedom 2015 FFVFX
Fidelity Freedom 2020 FFFDX
Fidelity Freedom 2025 FFTWX
Fidelity Freedom 2030 FFFEX
Fidelity Freedom 2035 FFTHX
Fidelity Freedom 2040 FFFFX
What exactly are they, and should I use them? Thanks! – Penelope from Maine

Hey Penelope, thanks for the question, I can help answer that one. Target date funds, or lifecycle funds as their sometimes called are there for the very novice investor. They are a fit for some, but for someone willing to put time in, might not be the best choice -

The point of these funds is to automatically adjust the asset allocation as you approach retirement. For example, the Fidelity Freedom 2030 fund features 80% stocks, 15% bonds, and 5% cash, while the Fidelity Freedom 2010 fund features around 50% stocks, 35% bonds, and 15% cash (which is what will happen to Fidelity Freedom 2030 around 2028).

But the problems with it? Well if Investor “A” is a single, high risk tolerance, millionaire and set to retire in 2020 and Investor “B” is a single father raising 4 kids set to retire in 2020 that needs to be conservative, do you think they have the same tolerance or goals by then? Not likely that they’ll have similar portfolio needs.

Another problem with these funds is that they’re pretty much all LargeCap U.S. based funds. Most invest very little overseas or in the Small and MidCap funds, reducing your exposure.

Or how about if you want to retire in 2043? Not 2040 or 2045, what fund do you choose? Kind of a coin flip and you don’t want your assets being finicky when it is time to hit retirement. Another thing to watch out for is that the funds are generally based on that particular companies OTHER funds. There are 10,000-ish funds out there, but most target date funds stick to their own mutual funds, instead of using index funds.

So Penelope, basically if you’re looking for a “set it and forget it” type of fund that you don’t have to worry about, they’re not bad. You’re at least in the market and they’ll likely turn a profit. However, if you’re willing to spend some time on your retirement, I’d try to find better funds in your 401k.

Related posts:

1. Should I Buy a Loaded Mutual Fund?
2. What Is A 12-b-1 Fee And Is It Included In An Expense Ratio Of a Mutual Fund?
3. What Is An Expense Ratio And How Does It Factor In On A Mutual Fund?

So after writing about how my Edward Jones ROTH IRA was invested in “B shares” of NFPBX and no response back from my Edward Jones rep questioning him if I could get out without paying the 5% deferred load or reallocate the funds elsewhere, I figured it was time to do something about it, and I have. As of yesterday at 9am, I turned off the faucet to funding that account. We’ll see if he calls me back now.

Either way I wasn’t very happy with the service he was giving me. He’s a nice guy, but it just seems to me like he is selling me a product instead of investing my money, very similar to my Universal Life Insurance policy I was sold on 5 years ago (of which I have also turned off the faucet, more on that later). But an advisor should be someone that is there to ADVISE you of where your money should go to help for YOUR retirement, not theirs. I am confident enough now to select my own funds and choose my own investing path, but it is nice to have someone to ping questions off if I DO have questions and for second opinions.

The personal finance blog network is one resource, but I like to have the option to ask a question to a certified financial planner if I can as well. It’s advantageous to have as many resources in your investing bullpen to help along the way with any decisions. So I will keep the Edward Jones account open for nothing more than to utilize the resource he’s given me; I won’t close the account because he’s not the one holding the bag for the 5% deferred “ladder approach” to investing, it is the actual fund, NFPBX. The ladder approach the Edward Jones rep refers to is that the 5% deferred load on the fund will decrease each year I stay in it, up until the 5th year, at which time my account will be converted into “A” shares and the load will be gone.

His explanation of the reasoning behind this is that “it will keep me honest in my investing, and force me to invest for my future”. Well, duh, I know I need to stay in for the long haul, but I don’t need to be investing in HIS future, nor the futures of the fund managers. I think they’ll do just fine without me. I also don’t mind keeping the cash in with NFPBX because it IS a decent fund; repeat, DECENT fund. I hate the deferred load, and the expense ratio of 1.48% isn’t in my sub 1.0% range, but it HAS returned 16% this year, and I can’t balk at that. But I think I can find better ways to manage the $.

In comes Charles Schwab – Honestly, it is the infancy stage, and I’m sure there may be bumps along the way. But they’ve been nothing but cordial in my journey thus far. Yea, I know, they want me for my money. If I find they’re not doing me a service, I have no qualms leaving them either; after all, I can open as many ROTH IRAs as I’d like if I really feel like it. But I am very happy so far. The one sticker so far I’m dealing with then is the fact that I’m NOT transferring my current ROTH or cashing it out (for $400 via the 5% deferred load is what I’d have to pay to get out now) so I don’t have any capital or $ to be sending to a ROTH right now, so I’m starting with the payments I PREVIOUSLY had going to Edward Jones of $100.

The payments will now be headed towards my new ROTH with Charles Schwab under one of their funds, SWEGX. SWEGX has been doing alright this year and it’s basically a mutual fund of mutual funds because it’s holdings are smaller funds, also held by Schwab. Morningstar gives it a 5 star rating. It has a 0.80% expense ratio that I like, and is a no-load fund. Finally it’s got a 12.4% rate of return so far this year, which isn’t too bad either. We’ll see how it does over the next few months, but as a starter fund and only have 100$ to start investing with, it is going to do the trick nicely I think.

Welcome to the family SWEGX!

Related posts:

1. My Edward Jones ROTH IRA Account Is Invested Nn B Shares – Is That Good?
2. A conversation with a Charles Schwab associate about funding a ROTH IRA and their options for it. (Part 3)
3. Should I Buy a Loaded Mutual Fund?

Short answer, yes.

I was considering just leaving this at that, but I figured I’d add a few extra lines to better seal the deal. So in writing My Edward Jones ROTH IRA account is invested in B shares – Is that good? I researched that same question because I was fed up with getting tossed in the “B” share pool, and wanted to get out, but thought (for whatever reason) that I could only have 1 ROTH IRA account open, but no, you can have 10,000,000 ROTH IRA accounts open if you’d like, as long as you don’t go over the $4,000 limit ($5,000 for those over 50) in any given tax year. However, I recommend NOT doing this because with each account, you’ll be buying into a fund for whatever amount your brokerage charges to make a trade, usually between $10 and $50, and that’s really going to eat at the principal, especially if you’re in 10,000,000 accounts.

But under my “bad investing decision #8 now I guess, it makes more sense for me to open another account up, as I won’t be paying the 1st one anymore for transactions, and will have to suck up and choose 2 or 3 stellar ones for the new ROTH…

Related posts:

1. A conversation with a Charles Schwab associate about funding a ROTH IRA and their options for it. (Part 3)
2. My Edward Jones ROTH IRA Account Is Invested Nn B Shares – Is That Good?
3. I’m Ditching My Edward Jones Deferred-Loaded, “B” Shares ROTH IRA