Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I recently had my taxes done at H and R Block, and they told me that there was this great new tax credit I could take advantage of if my retirement savings for the year added up to $2000, if I remember rightly that that's what the amount was. (I had already put about 1000 in my company 401k in 2002)

Indeed they proposed this plan for putting just the right amount into one of their IRA's immediately, payable out of my tax refund.

Perhaps I could have found a better IRA if I shopped around, or even if I had put the right amount of money in my 401k, but this idea of getting everything done in one step seemed efficient, and I like to do things and have them be finished.

Now I find that this IRA may not be the best one to have, (worst thing in the fees department: $35 a year for years when you don't add more) and I am wondering what my options are in terms of transfering it to something else. Does it make sense to transfer it to my 401k plan? (The Block IRA is a Roth, my 401k isn't) Are there decenter deals out there and where should I look?
Print the post  


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.
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.