Can I rollover my roth ira to a different company but also roth ira?
Thursday, December 31st, 2009 at
5:00 pm
My agent wants me to roll my Roth IRA to another company (company1)that has better interest rates. Can I roll my roth ira to another company (company2) without penalties?
Filed under: Retirement Planning
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Yes, you can. Have the new company do a direct transfer. Technically, they don’t call it a rollover, just a transfer.
Yes, you can do that. Make sure that you’re investing in diversified, no-load mutual funds with expense ratios less than 1%.
That depends on how much your agent is going to charge you for his services. I’d consider his fees a penalty.
A Roth IRA is yours to invest as you please. You don’t need an agent to move it from one place to another as long as it is to another Roth IRA.
Your agent wants you to roll your Roth IRA to another company so he can make a new commission. I think you should roll your agent into the trash! Please read my profile and email me. I have a suggestion for you. You can keep your Roth which you already paid him a commission for and assign it to a new and honest agent and it won’t cost you a dime.