No. of Recommendations: 0
I am very new to this so bear (heh) with me! I worked for company X for a couple of years and earned like $4000 from their 401k. After quitting the company, I transferred that money to an AMEX IRA (New Dimension Fund) that the broker wasa friend of my parents. This xfer cost me around $400 all said and done. Now I have moved to an area where this broker does not have a license. I've been lurking here for a coupla hours now, and visited several sites to request info. Question is, if I were to move this Amex IRA to a Vangaurd Roth IRA would I be hit with another % commission fee as well as having to pay taxes or would this be a tax free money xfer. I am very unimpressed with my IRA currently (this guy doesn't even have email) so I would like to move to some online service!

Oh yeah ...forgot to mention that I haven't even made back the original $400 (been a little over a year).

Anyone have any similar experience or can offer me any advice or even links :)

Thanks (sorry about the post length)!

Philobeddoe
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
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 Glassdoor #1 Company to Work For 2015! 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