UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev | Next
Author: dsemmler Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76075  
Subject: Re: SIMPLE IRA, index fund, account w/whom? Date: 9/4/2003 4:56 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
I've also looked into buying a fund directly from Vanguard or Fidelity, but neither of them handles SIMPLE IRAs unless my employer names them as the "designated financial institution" and locks all employees in to that company.

I was not aware that a typical SIMPLE-IRA allowed each participant to select a different broker. Earlier this year, I looked into the SIMPLE-IRA from Vanguard and Fidelity and convinced my employer to establish a plan with Vanguard.

If you are thinking of using a Vanguard fund but cannot invest directly with Vanguard, you may want to look into Scottrade. There are many people I have encountered on these boards that use them and seem to be quite pleased. You will not pay any commissions for purchasing the Vanguard funds (at least that is the case with VFINX and VTSMX). In addition, I believe you will avoid some of the account fees and low-balance fees imposed by Vanguard.

FWIW, I have my SIMPLE-IRA with Vanguard and am investing in the Total Stock Market Index Fund. It is all on auto-pilot and the contributions are made every payday and deposited into my Vanguard account.

Hope that helps....

dt
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Macro Economics

The Deflationary Cycle Explained
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement