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Good Simple IRA News!

March 30th, 2012 at 03:20 am

My employer's retirement plan is a Simple IRA. It has been set up at Edward Jones. A few months ago, our plan advisor chose to leave Edward Jones and open his own investment firm. The two partners at our firm chose to follow him. They gave us employees (all two of us, the third employee does not participate) the option to follow, stay, or move our accounts elsewhere.

Well, it turns out Vanguard will accept "orphaned" Simple IRAs!! I started the paperwork process today. My Simple IRA is moving! I am so jazzed. No more front end loads, no more high expense ratios, and a reduction in annual fees from $40 to $25. Yay!! That means more of my money for me. Smile

In other riveting news, I did a wallet sweep and chipped another $9.38 from my mortgage. What will the huge chunk of granite become as I chip away? Will it resemble Michelangelo's David? Hmmm.

2 Responses to “Good Simple IRA News! ”

  1. Ima saver Says:

    Congratulations, you will like Vanguard.

  2. Jerry Says:

    That's a nice opportunity for you and the other employee, and it looks like it leads to some immediate benefits, so that is great! So cool that you didn't even have to do anything to make it available, you had the insurance that it was just handed to you because of your plan advisor's decision. Smile Jerry

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