We're pleased to announce an update is coming to the community boards.
Sunday, September 25th: We are migrating the boards to a new platform. The site is currently in read-only mode and we will bring it back online as soon as the migration is complete.
This board has been migrated to our new platform! Click below to continue the discussion on the new site.
Hi:Just wondering, is it possible to have different years of Roth IRA contributions with different trustees?For example, I've got my $2000 of 1999 Roth IRA contributions with Vanguard in two mutual funds. But now I want a Janus mutual fund.I don't really want to pay Vanguard's sales charge for every investment/disbursement i make/take to/from that Janus fund.So I'm wondering if I can do my $2000 contribution for 2000 with Janus. And maybe 2001 with an online broker?Would appreciate any and all suggestions.Thanks and regards,MM
If you are qualified to contribute to a Roth IRA, nothing keeps you from putting this year's contribution with a different trustee than last, and a different one next year. You will have a little more paperwork. Janus and Vanguard are both excellent mutual fund companies, with a different philosophy, and to have accounts with both makes a lot of sense. Good Luck! Chris
Hi Chris,Yes, I knew there would be more paperwork. But I'm pretty good about keeping financial info together and organized, so that won't be too big a problem.And really, the big motivation is to avoid paying extra $$ just to have one trustee compile all the info for you. I'd rather keep the $35 a pop Vanguard would hit me with as a sales/distribution charge for myself?Thanks for your speedy reply!MM
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |