Mar 9

Question by HEWLETT: Can I rollover my roth ira to a different company but also roth ira?
My agent wants me to roll my Roth IRA to another company (company1)that has better interest rates. Can I roll my roth ira to another company (company2) without penalties?

Best answer:

Answer by Kaptain Krakatoa
Yes, you can do that. Make sure that you’re investing in diversified, no-load mutual funds with expense ratios less than 1%.

What do you think? Answer below!


3 comments so far...

  • from me to you Said on March 9th, 2011 at 5:57 pm:

    That depends on how much your agent is going to charge you for his services. I’d consider his fees a penalty.

    A Roth IRA is yours to invest as you please. You don’t need an agent to move it from one place to another as long as it is to another Roth IRA.

  • Rich Jackel Said on March 9th, 2011 at 6:14 pm:

    Your agent wants you to roll your Roth IRA to another company so he can make a new commission. I think you should roll your agent into the trash! Please read my profile and email me. I have a suggestion for you. You can keep your Roth which you already paid him a commission for and assign it to a new and honest agent and it won’t cost you a dime.

  • newjerseyguy Said on March 9th, 2011 at 6:57 pm:

    Yes, you can. Have the new company do a direct transfer. Technically, they don’t call it a rollover, just a transfer.

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