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Investing/Strategies / Retirement Investing
|Subject: Re: ROTH IRA -Investment company of america||Date: 11/17/1998 9:35 PM|
|Author: TMFPixy||Number: 6651 of 83105|
Greetings, tell111, and welcome. You asked:
<<I recently went to a financial planner and rolled over my 401k into a regular IRA(IDEX mutual funds). At the same time I started a ROTH ira with Investment company of america. Now, I want to roll over my regular IRA into a roth. However, since I have been researching more on the internet, I find that the load on the Investment company of America is 5.75%.. I dont know if I should put the money from the regular IRA into ICA.
The thing they have going for them is being in business for over 60 years and guaranteed returns.. I dont know what I should do..
Does it sound like Im getting ripped here?? There was a load on IDEX mutual funds as well.>>
In today's competitive fund world a 5.75% load is unconscionable, unnecessary, and ludicrous. In Fooldom, we believe there's really only one stock fund worthy of your dollars, and that's the low cost, no-load Vanguard 500. Over the long term it will beat the vast majority of stock funds available, and that includes those offered by IDEX and ICA. If you want proof, just go to www.morningstar.com and check out the Vanguard 500 against the funds you're considering.
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