Reviews about 401K's & IRA's

useitwell99 says "T. Rowe Price IRAs are Convenient and Perform Well" about T. Rowe Price IRA

useitwell99 — Sat, 28 Nov 2009 01:52:13 GMT

I rolled over a former company 401k to a T. Rowe Price IRA several years ago. Like many other companies, T. Rowe Price offers many mutual fund options. I prefer the funds that are balanced for the year that I plan to retire (e.g. the 2030 Retirement Fund). The returns have been as good or better than my current 401k account. Their website is easy to use and allows me to get paperless statements that I can print if I so choose. Overall, I have been very satisfied with T. Rowe Price and would recommend them to other investors.

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nitza19 says "Low Fees and Top Notch Customer Service with Vanguard" about Vanguard IRA

nitza19 — Tue, 17 Nov 2009 06:44:04 GMT

When I first started a retirement account through my employer, I didn't know a thing about investing and was really scared of it. So I went with the broker they recommended and of course got fleeced by high fees. That's what happens when you don't take the time to learn what you're doing.

So I started to learn just a thing or two about investing and decided to open a Roth account (since I am young and the tax advantage will work out very well for me). I am starting with mutual funds while I continue to learn, so I got four mutual fund companies' websites and started comparing them. Some were more user friendly than others, some were cheaper than others, and some had lower initial investments. Since I am still so new to investing, though, I didn't understand a lot of the information on the websites. I was not going to let that hold me back, though: I got the 1-800 numbers for each company and started calling and getting my questions asked. And then I'd call back again later...

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Passioned says "Fidelity Funds IRA are the way to go. " about Fidelity Funds IRA

Passioned — Sat, 19 Sep 2009 15:28:28 GMT

I am a 20 something adult and when I started working full time that last thing on my mind was the 401K account. The company that I worked for at the time offered something similar to the Fidelity Funds IRA. It is a Fidelity 401K account and even in this rocky economy it is making me money$$$$. My only con with using it is that now that I am no longer employed with that company I am not able to add to this account and looking at the comparision where I am adding growth to this plan; my new funds at ING are seeing a decline. I know that every one says it doesn't matter becuase I am buying low to build more units in the future but the peice of mind that I receive from Fidelity Funds IRA is better. It feels great to sign into the account and see the green growth symbols instead of the red ones. Ulitmately I think just having an account to save for my future puts me at least 10 years ahead of the retirement game, until then I will just use Mypoints.com to get free rewards to live a frugal life....

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abom408 says "Sound advice - sound investment" about Vanguard IRA

abom408 — Sun, 13 Sep 2009 13:09:22 GMT

I began investing with Vanguard years ago and started small, but each year as I added what I could I saw it grow. Yes, I lost "some" with the recent crash, but not as much as others and I've gotten most of it back. I took advantage of their coaching and diversified so that it would be relative to my age and my personal goals. I found a long time ago you had to take some personal responsibility and not just leave it to the experts....unles youare very, very sure you have told the experts everything you expect. (and to be honest, when I started, I did not know what my life would be now, so I didn't know what I wanted or needed at that time. Vanguard has been a safe haven in hard times and has protected my online access over the years with security and notices.

I really like the fact that I don't have my investment information floating around in the mail or setting in my mailbox all day when I out...just a lot more secure and always a quick check.

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nova-sys-eng says "Customer service and financial advance are not priority #1" about Principal Financial Group IRA

nova-sys-eng — Thu, 20 Aug 2009 01:53:56 GMT

Principal Financial Group as a 401k administrator

I recently started with a company that uses Principal as its 401K admin. I knew trouble was afoot when I started reviewing the funds in which I was going to invest my 401K contribution. All the funds are 'private', i.e., not regulated by the SEC, and they do not provide a prospectus (nor offer much information about the funds). The pool of funds is small - about 2-dozen. No money market funds. One fund is a real estate fund that has a history of refusing sell orders until months have passed. The expenses for their funds are 2-3 times higher than comparable funds administered by another well-known 401K admin company.

One bond fund they run hijacks the name of a retail bond fund that pays dividends. Their version of the fund with the same name does not pay dividends. Dishonest, misleading - I don't know which.

The reporting available on the 401k website is horrible, e.g., it's extremely difficult to review what you paid for a share...

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kellik06 says "Vanguard is the smartest way to go!" about Vanguard IRA

kellik06 — Sat, 18 Jul 2009 20:49:06 GMT

Working for a financial institution, and having absolutely no prior knowledge of IRA products, I always seek advice from one of our bank's financial advisors. After two years of being with the bank, he still backs Vanguard 100% and so do I. While everyone else wanted to go with the company they thought would suit them best, I stood by still with Van., and unfortunately watched those who thought they knew better lose a lot of money. Go Vanguard! They know their stuff and care about their clients.

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jlyn81 says "Fidelity IRAs are very user-friendly" about Fidelity Funds IRA

jlyn81 — Mon, 13 Jul 2009 16:05:51 GMT

I have opened a Traditional IRA for myself and a ROTH IRA for my husband through Fidelity Investments. I found the entire process to be simple and very user-friendly. They walk you through the set-up process step by step. If you are unsure of the type of account you want to open their website does a very good job of explaining the different brokerage and retirement accounts that are available to you. I have called their customer service department several times to inquire about product offerings and fees, and have found them to be very helpful. I also find their commissions to be very competitive. If you want cheaper commissions you are going to need to go with a Charles Schwab type company. Definitely be aware of the fee's you are paying for individual mutual funds that you purchase - but Fidelity offers a number of "no-load" funds that are very good. If you are concerned about mutual fund fee's also consider looking into Exchange Traded Funds (ETFs) which trade more...

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rockettom says "Avoid the Smith Barney pirates" about Citi Smith Barney Financial Investments

rockettom — Fri, 08 May 2009 00:38:22 GMT

We have had Smith Barney IRA's for over 20 years. They started ok, we survived all the mergers and acquisitions, even went along with the whopping $40/year per account that they charged for mailing us four statements a year (which were unintelligible, by the way, by far the worst format in the industry.). But this year, they went to $75/year per account maintenance fee for their four mailings. We bailed. Plus when we closed our accounts, they charged the $75 fee plus another $75 for "Termination Fee". Cost us $600 just to close fouor accounts. These guys are really pirates. CitiBank is getting all these Federal bailout funds but they are still sticking it to their customers. I say, let them go down.

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micaho says "depends on who your advisor is, mine is good" about Citi Smith Barney Financial Investments

micaho — Tue, 24 Feb 2009 02:17:42 GMT

My money is in good hands with my advisor. He keeps me abreast of the economic climate, helps me when I don't understand and provides me with knowledgeable insight. My other advisors have not been customer service friendly and my newest advisor of over four years now is very helpful even in this economic turmoil I don't think a brand is required for investments, although it may help- i think it has a lot to do with the individual advisor and the type of service they can provide for you specifically. ...

foghornleghorn says "Ed Jones sucks" about edward jones Roth IRA

foghornleghorn — Tue, 17 Feb 2009 23:41:24 GMT

Personally, I think Ed Jones has to be the worst investment managment company out there. I have my own personal account that I manage and during these troubled times have gained 2%. My Ed Jones large account has lost 55% and going down still. And, one has to pay really high loads to make buys and sells and a managing fee. If I knew then what I know now I would have RAN away when solicited by Dead Head Jones. Another problem that I have had is when I need to make a buy or sell my broker can never be reached. So I am usually buying high or selling low. In fact I asked to make a buy on Exxon a few weeks ago when the price was 76. and when I got the buy order in the mail I paid 80.! Ed Jones dosn't know what real time investing is. The managers are too interested in taking money than they are in real research of the companies that they solicite or in really taking care of the client....

Dustieisfun says "OH, Too bad I don't have any $$$$ to put in one!" about Charles Schwab IRA

Dustieisfun — Mon, 02 Feb 2009 18:18:25 GMT

I used to have $ in my 401K through a company that invested the same $ amt that I put in and at the end of 23 yrs of working there, I quit and wanted to move on because I knew everything there was to know in the company in every dept. Including making the product. Schwaab Stamp and Seal Company. I had $70,000 some odd $ when all was said and done. Well my son's father and I had broke up and I was poor so I had to w/d it and use it for moving and to live on for a while til I found a better job. I did. But they had no investment plan yet in their company because they had recently opened in Milwaukee. I worked for that branch here. As an Office Manager which is what I ended up doing at Schwaab in the end too. Oh and when you w/d it early b-4 you retire u get penalized by our wonderful GOV"mnt of 43%. So by then I did not have much. I know stupid move on my part. Maybe I'll win the lottery some day that I never play! HA! HA!...

ptwo says "good fund options" about Fidelity Funds IRA

ptwo — Wed, 28 Jan 2009 18:39:30 GMT

First thing that I would like to say is: you have got to purchase roth IRA when you still can. It saves you tax and trouble after you retire.

Second, Fidelity has lots of good funds. They have friendly advisor to help you as well when need one, and it is not hard to find one and fit into your time schedule.

I have invested in fidelity for over five years now. In general, their funds have good returns (above average).It also has very diversified choices for you to choose from. If you have never invested before, fidelity is the place to start

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jeno654321 says "401Ks and IRA" about Vanguard IRA

jeno654321 — Sat, 03 Jan 2009 08:14:33 GMT

The topic of 401Ks and IRA is not so worthy a topic as the vessel into which one places their savings. Ultimately, both are merely tax deferred savings plans, where the savings are held is most important. Further, the question of what kind of investor are you is not an issue either, all the companies listed offer the full spectrum of accounts from aggressive to very conservative.

Most importantly, look at the companies, their track histories, and yes...their fees!!! Only one company on the list is worthy of mention and that is Vanguard. Not only do they have the performance history, but their fees are among the very lowest in the industry. All mutual funds have fees, even the no load funds. That is the cost of doing business so to speak. Many companies take advantage of what is allowable by the SEC while others manage quite fine minimizing said fees. A higher fee in no way connotes a better return, it simply is subtracted from what is called the total return.

Compare apples to apples....and...

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scounselor says "Don't use them!" about Principal Financial Group IRA

scounselor — Wed, 03 Dec 2008 19:51:50 GMT

This company doesn't honor their group LTD policies. I breezed through Aflac claiming on my STD benefits. I even breezed through the Social Security Administration and got approved for disability on my initial application. The Senior Claims Rep., Justin Schaack, assigned to my LTD claim with this company was rude and discouraging when I applied for benefits under the policy I had with them. And I STILL haven't collected any money on the group LTD policy I signed up for through my employer years ago! My LTD policy through this company was supposed to start paying me 90 days from the onset of my total disability. I'm now 14 months out of work and living on Social Security benefits and they STILL haven't approved my claim for LTD benefits through my employee benefits policy. I've had to sign away 50% of the back benefits they already owe me to an ERISA attorney to handle my appeal! They are corrupt and will act in bad faith when it comes to claims filed. They're......

swittie1 says "Solid, Trustworthy and Reliable - everything I ask for!" about Citi Smith Barney Financial Investments

swittie1 — Mon, 01 Dec 2008 15:27:46 GMT

My family and I have been invested with Smith Barney for decades. I have only experienced solid, trustworthy advice. My grandparents have trusted them with their hard-earned money since the 70's. Since then, they have proved to be reliable, knowledgable and steady.

As my employment has transferred from different companies and I save into 401K's, I roll them to Smith Barney and feel confident they are in good hands. I have also set up Simple IRA's as well as invested in mutual funds. I do not babysit my investments, as I know over the long-haul they will prosper.

During this difficult economic time, I am sure everyone has growing concerns over their finances as well as their investments. I feel confident that my investment is in good hands to recover well as our economy heals.

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DR-PILANI says "Gave up on Vanguard before I could start" about Vanguard IRA

DR-PILANI — Wed, 26 Nov 2008 05:59:15 GMT

After hearing a lot about VG and fidelity I thought opening an IRA account with VG but gave up after a few try

Why I gave up

1) to open the account they ask for 3 things

Account owner information. Supply each owner's name, birth date, Social Security

but when you fill this and hit continue you get an error! How difficult that can be. I checked my entry 4 times no success. I have almost 20 on-line accounts (banks and investment included so I know what I am doing)

For most Vanguard funds, a minimum initial investment of $3,000 per fund to open a Vanguard IRA®.

Most firm allow opening IRA account with as little as $500.

With minimum requirement of $3000 to open an account I find their claim of 'invest as little' base less..sorry

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JoeLansing says "Not very good" about Principal Financial Group IRA

JoeLansing — Sun, 26 Oct 2008 16:47:57 GMT

They are front loaded. Your employer pays them to manage your 401k. They say there are no fees, but they do have "Managment Expenses" which are the same thing. Those are on top of what your employer pays them. And they do hold money and not let you transfer it. At work a friend had a lot of money in their Real Estate fund. It was going down. He wanted to transfer it to Money Market. They put him in a queue to wait to be able to transfer. They said it could take up to 3 months.

There are a lot better. Avoid Principal Financial Group if you can.
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lilestif says "Fidelity is knowledgeable and helpful with 401K investing." about Fidelity Funds IRA

lilestif — Thu, 09 Oct 2008 16:24:43 GMT

My husband has a Fidelity 401K with his employer. This is not the first investment services we've had but it is the first that takes an active interest in what you want for your money.

They educate you according to what you are planning to do with your money. If you are a high risk investor they have suggestions for that.

If you prefer to have your money work in a different way then Fidelity is capable of finding the right fit for your needs.

When the recession hit and the market took the plunge, our investments with Fidelity lost less money per share than any other investments we had. Because we were low risk investors some of our investments didn't lose money and some gained.

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nevikleo says "Jay Blackburn Rules" about edward jones Roth IRA

nevikleo — Wed, 30 Jul 2008 00:48:56 GMT

The above named individual has helped me tremendously in planning my investment objectives. I have been outperforming the stock market with Mr. Blackburn's advice. The strong advice is to have all your eggs in many baskets and always be diversified.Save 15% of our gross income for retirement starting at age 25 will lead you to retirement by the age of 60....

plz says "Worst company to manage your 401K savings" about Principal Financial Group IRA

plz — Mon, 23 Jun 2008 02:31:55 GMT

I have a current 401K with Principal Financial Group. Have already contacted them 3 times about funds not being available in my acount. They sometimes block your funds and make it impossible for you to protect yourself in a going down market. So even if you predict the market is going down you cannot transfer in others funds like Money Market as they will not make the funds available to you until the market has reach the bottom. They are rude and don't care about you having to delay your retirement 2-3 year because their own mistakes. They once have appologied to me that one of thei employees has lost a transfer order so is was not executed for 3 weeks. I do not have the option to replace them as I'm still with my employer that has a corporate account with them, but I will definitevely find onther 401K retirement manager once I change my employment. If you have a choice don't use them. You will end up frustrated and having to delay your retirement because of their mistaskes....