Ask Terry Questions retirement savings

retirement savings

By Terry Savage on February 15, 2024 | Investments

Good Morning Terry,
We have almost all of our retirement savings in an IRA with one investment firm. We are thinking of taking half of our money, and investing with someone else. Is this a wise move or is it best to stay with one firm?

Terry Says

That depends on the fees you’re paying and the advice you’re getting.
So do you know how much you’re paying each year in total fees, commissions and expenses? Ask what you paid last year. If it’s more than 1.5%, you’re paying too much. And you should move your entire account!

But if the costs are low and the returns last year were roughly equivalent to the Dow Jones Ind Ave (up 24%), then no reason to move.



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