What is the fee on a traditional Ira?

Question

I have $75,000 to put in and I would like to know if a one time $3000.00 fee is in the right range,They will be divided into stocks ,bonds and cash.

Answer 1

See if you qualify to join a credit union and look at what they offer. It will take a while to get your $3,000 back in income earned, evn growing tax-free.

Answer 2

Are you paying a fee for the accuunt or for the investment product?

Sounds like you are paying fees for investment products and not IRA fees (i.e. the fees would be the same for those investments if you purchased them in a non-IRA investment account).

Regarding IRA fees: Some financial companies charge about $30 a year for smaller accounts (less than $50,000), while others charge no annual IRA fee.

Regarding the investment product fees, they might charge a one time fee of close to 6% of the amount you invest (discounted for larger accounts).

If you find that the service they are providing is worth the $3000 then go for it...however, if you do not find value in their service then I'd suggest going directly to one of the mutual fund companies and bypassing the investment professionals altogether (do-it-yourself).

Answer 3

I would never pay $3000 for just an IRA. If your getting some type of investment account it may be a reasonable fee, but I really think you should shop around as $3000 is a lot of money and I'll bet you can find a reputable investment firm that will charge less than $3000 just to get you to deposit $75,000 into there firm.

If you are looking for an investment Firm I would try USAA Investment Managements, at http://www.usaa.com (if you qualify) or Charles Schwab http://www.charlesschwab.com or Fidelity http://www.fidelity.com

If you are looking for a mutual fund or something similar try anyone of the above (as they all have access there own private funds and popular ones) or try opening an account directly with Janus http://www.janus.com

Answer 4

you could not convert "from" a Roth IRA to an IRA (till you undo an IRA to Roth IRA conversion with a recharacterization an analogous 12 months using fact the conversion). So i think you initially had a accepted IRA and switched over it to a Roth IRA. look at something with regards to the account and spot what variety of account it presently is. in case you probably did convert from IRA to Roth IRA you're able to could desire to pay earnings tax on the quantity switched over the 12 months it grew to become into switched over. in case you withdraw a switched over quantity formerly 5 years bypass, you're able to get hit with 10% penalty. in case you made Roth IRA contributions, contributions could be withdrawn at any time (with out penalty) and come out of a Roth IRA first. yet whilst the whole factor grew to become into an IRA to Roth conversion you could not do this with out penalty till 5 years after the conversion. it particularly is all defined in IRS booklet 590.

Answer 5

Don't pay any $3,000 fee. IRA fees are generally for account maintenance and not more than 2% on a NO LOAD. Vanguard or TRowe Price will do and IRA for you for practically nothing. Energy Funds are my choice.