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25 sats \ 3 replies \ @hodlpleb 25 Jan \ on: Vanguard blocking bitcoin ETFs - what to do? Personal_Finance
If the assets (stocks, etc) are in a Roth IRA at Vanguard, you can tell Vanguard to sell $XXXX and turn them into dollars. Those dollars will stay in the Roth. Then you can transfer those dollars from the Vanguard Roth to Fidelity Roth (or whoever). Then you use those dollars to buy ETFs in Fidelity. You can have accounts at both companies. Current rules state that gains in the Roth account will not be taxed when you start withdrawals, given you have reached the appropriate age.
The posts on potentially tax free transfers are totally fair, though I again want to stress they are limited depending on what the type of account is and what assets you are invested in.
However my main concern by far for financial cost is the investment fee and thus net return for comparable funds at competitors. Even a few basis points in extra fees over 30 years could be tens or hundreds of thousands of dollars. Just 30 bps extra in fees on an average sized IRA (lets say thats $100k for easy round numbers) compounded for 30 years is just shy of $150k. This is a WAY bigger cost than a potential few thousand $ tax hit today.
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I agree. Fell into the NPC trap and have that money tied up in IRAs now. Been tough to pull the trigger on pulling out the cash and using it elsewhere...
This is what we are all sold - Give us your money. Number goes up with inflation. We'll take half. You'll be happy with that because you are ignorant.
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