Any finance guys have a good one to park my 401K rollover?
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E-Trade is good, but if you dont keep at least a $100k in it and want to ever make early withdrawls they hit your for a $25 fee. But if you make 30 trades a quarter then they waive the fees.
The real question is whats your plan for the $, if your gonna buy and hold stocks and reinvest dividends any of them will work, if you want to trade use an online one because trading fees are going to be alot less. The again some people prefer their $ close by and like to use a local financial institution.
Main thing is you only have 60 days from when the check is dated to get it in a IRA or they (IRS) are going to consider it an early withdrawl and you will have to pay taxes and early withdrawl penalties.JMO
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Wells Fargo is telling me if I cash out they hold 20% for taxes and it will be considered earned income for that year. I want to grow it but I have no clue about trading. It' 42K as of this morning. I want to play around with it, I'm not sure how to go about it. It's -9.95 rate of return or something like that.Comment