Ask Terry Questions Lower fee for IRA

Lower fee for IRA

By Terry Savage on February 17, 2024 | Financial Planning / Retirement

I was surprised to learn my account charged almost $2000 this year for my IRA which I manage myself. I wanted a lower fee since this $100,000 is my “chicken money” with SSA will keep me from the Poor House” in the future. I’m a non- financial female age 74. Please note FIDELITY only starts at $500,000 and couldnt help me at all.

Terry Says

You’re wrong about Fidelity. That limit is for MANAGED accounts! Do a direct rollover and manage it yourself for NO fees. And lower cost investments.

You’ll have to sell your existing securities INSIDE the old IRA, and just do a direct rollover of the cash.
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