Looking for a good bank with High Yield IRA Accounts?

Question

I have an old 401k account from a company I no longer work for. I am looking to transfer the money in a traditional IRA account that I can leave in for the next 20 years.

Answer 1

The place you chose to put the money depends on your goals and your level of risk taking. You can rollover, with no tax implecation to any type of account. I recommend an Qualified IRA Fixed Annuity. Good interest rates, safe, and if you go directly through the company, and not a broker no fees!

Let me know if I can help

Answer 2

there is no such thing as high yield IRA. IRA is a type of account. You can fund it with anything... well almost anything you want.

I also would be very careful about "leaving something for 20 years" every portfolio needs to be rebalanced. For example our beloved Dow Jones Index has not gained a penny if invested in January 1965 and cashed out in October 1982.

I would take all the stories about market always going up with a grain of salt.

Mid cap value, EAFE index, commodity index, should always be in your portfolio. Use ETF's to get exposure. Cost control is the key.

good luck

Answer 3

The last places to put your IRA Rollover monies are banks and insurance companies. Big mistake. Buy a couple of books on retirement investing. Learn "asset allocation". You don't have to be an expert to do better than a bank (over a 20 year period).

Answer 4

Roth is for retirement savings. at first, it is not a savings account. you won't be able to take out the income till you're sixty 5 years old. (you may take out the crucial, so it is style of a no-yield savings account) Secondly, it quite is a brokerage account - meaning you nonetheless would desire to compliment a thank you to speculate the money. Leaving it in funds won't earn lots activity in any respect.

Answer 5

not during the bush administration, you wont find one