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12-20-2018 10:21 PM  11 months ago
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RM3

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Killeen, Texas - USA

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ROTH IRA question
So I have a Roth IRA, Ive had it for 10 years, and Im under 59 1/2 years of age.

The Roth IRA performance is straight up garbage. it earns less than 2% per year and has a morning star rating of 3 stars (just above absolute crap which is 2 stars). Im tired of its piss poor performance and none of the other offerings (if exchanged) are any better.

So I want to pull all my contributions out, leave the earnings in there (not much) and invest my contribution money myself ( I used to do this before and was earning at least 4 - 8%).

So my understanding is that I'll need to pay a 10% penalty calculated from the amount I plan to take (all my contributions)...

is that all I'll pay or am I missing something?
showing a preference will only get you into trouble, 90% of everything is crap...
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12-21-2018 01:09 AM  11 months ago
Jerry K

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Houston Area

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IANAFA but your investment is not locked into any type of investment. A Roth is a set of rules pertaining to how investments are taxed.ie An IRA taxes the earnings, a Roth IRA doesn't tax the earnings.

Find a suitable investment you would be happy of which there are many, and roll the entire amount into a new investment platform. I would say it is a bad idea to leave a small amount of money in an investment you no longer have an interest in. That is the reason there are unclaimed accounts listed in the news paper every year.

You already have the Roth set up simply move it to something you would be happy with.

OR simply send the proceeds to me and I will take care of it for you!!!
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12-21-2018 01:34 AM  11 months ago
RM3

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Killeen, Texas - USA

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I can move it with no penalties whatsoever , but the other plans they offer with this option suck just as bad. According to what I’ve been reading I can only take out what I’ve put in, so what stays behind is what it earned (which is crap over the last ten years). Just not sure about the 10% penalty... if it pertains to me or notshowing a preference will only get you into trouble, 90% of everything is crap...
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12-21-2018 02:51 AM  11 months ago
Jerry K

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Houston Area

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I guess we are low on replies at this stage of the game at RR.

Any of the financial firms have investment programs, Fidelity Vanguard all of them. I am assuming you do not have a desperate need for the money.

Then you will have ample investment options to roll into. This happens every day in America. Approach the institution of your choice and in a 15-30 min call they will move your money into their account. There are no penalties if you roll from one institution to another, as long as you never handle the money yourself.

I am also assuming you don't want to take me up on my offer.
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12-21-2018 03:31 AM  11 months ago
RM3

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Yeah, I’ll pass on that showing a preference will only get you into trouble, 90% of everything is crap...
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12-21-2018 07:25 PM  11 months ago
spaceman spiff

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Tucson

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Hopefully your existing investments are not getting stomped on too badly this month. If so, that might have been a great place to be. it is starting to look like a great time to switch.

Even with the recent price drops Price/Earnings are still a bit high. S&P PE ratio is close to 19 still. I have been sitting on cash for quite a while now. Started pushing a little back into the market a few days ago. No one can really time it (i certainly can't) but the simple advice of sell high buy low, or at least sell high-ish buy low-ish still can work pretty well. Good luck.
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