Money Matters
lovelylivin
member
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
401K Rollover Question (slightly long)
Hi, I just started a new job and am looking to roll my Roth 401k $$ into a Roth IRA. My husband (self-employed) will also be opening up a Roth IRA. Background: we are 27, I have about $65k saved (only $300 of that is pre-tax), and we have met with a financial advisor (works through Nationwide, Dave Ramsey ELP). I'm not eligible for my new company's 401k for a few more months, and don't really plan on staying long-term, so instead of waiting and rolling it over to that account, I thought it was wise to open my own IRA. Once I am eligible, I'll be contributing to get my full match, then we'll be maxing out my husband's Roth, then the difference (if any) will go into this new Roth.
Our adviser has recommended that we both invest in the same growth portfolio through American Funds -- (comprised of 4 American Funds funds -- works out to be a mix of US and non-US stocks...56% and 36%, respectively, and within that, a mostly large cap and some medium cap stocks). The average expense ratio is .89%, with the industry average being 1.38%. It's fairly aggressive, but we're both on the younger side, so I'm okay with some volatility. He proposed buying all Class-A shares (I think that's what he called them), where we essentially pay all the fees upfront...a higher initial cost to invest, but after this, we'd only pay the $11/yr or so administrative fee. The initial fees include his commission, along with the fees associated with the Funds. It works out to be about $5k. It all sounded on the up and up to me, but as this is my first rollover, I was hoping to get a few opinions. He was very upfront, showed us the FINRA website and told us to check out his profile and do some investigating, and again, it all seems safe. (His profile was clean.) I'm just a little nervous to place all of my $$ with someone I've just met (even though my gut instincts say he's trustworthy.) Does anything about this seem unusual?
Re: 401K Rollover Question (slightly long)
My wife's last company used investment companies like this and the one year that I followed her statements they took over 4% in fees and made her roughly 7% in returns when my accounts in Vanguard, Fidelity, etc cost me less than 1% in fees and my returns for that year was roughly 12%.