Moving Roth IRA

Hello,

Thank you for all of your content. I took your class and found it very informative. I’m starting to see the power of low cost index fund.

As I was starting my financial journey a year ago, I opened up a Roth IRA investing in a mutual fund with a financial advisor, but now as I learn more about Index funds I realize that this is the best option. Through your course I started looking into the mutual fund fees and discovered how expensive they really are. How do I go about transferring the Roth IRA from the account the financial advisor has set up for me to a low cost index fund? Can the financial advisor hit you with any fees for leaving them within a year?

Is it similar to transferring an IRA or 401k where you want to roll it over? I don’t want to withdraw any of the money and want to make sure I don’t get hit with any withdraw fee/taxes.

Contact the place you’re moving your funds to, they’ll be glad to help you get it transferred.

Will there be a fee? It all depends on the agreement you have with them

Hi @corryseamus!

I’ll cover this in tonight’s office hours (9/15/2021) with the recording available afterwards on the course site!

If you’re not signed up for office hours, you can sign up here.