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Originally Posted by p2 dog, p2
I am writing because I am going to use this thread for knowledge and where to seek that knowledge. My first move I think should be looking to reduce my investing expenses/fees,
This is true, a 1% difference over 40 or 50 years makes a huge difference.
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Originally Posted by p2 dog, p2
I think it would be wise to forgo Prudential and my "financial professional." I am not even aware of what I pay in fees or expenses but I know it is pry much worse than it should be. I want to get my IRA accounts into something more cost efficient like ETF's. Is this hard to do?
Are there penalties I would pay if i moved from Prudential funds to ETFs through an online broker?
I don't know much about Prudential, but unless the funds you are in are back end load funds then you shouldn't have any penalties. Since all of these accounts are tax deferred you should be able to sell them, and then transfer the money to a new account of the same type.
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Originally Posted by p2 dog, p2
Is that wisest or would it be smarter to go through something like Vanguard directly? I want this money to stay allocated toward retirement, so keep it all in my SEP, Roth, traditional accounts, but just in different funds with lower expenses. Is this the definition of rolling it over?
You can open an IRA at many different institutions. Where you open it is up to what you want to invest in. If you want low cost Vanguard funds, then open it at Vanguard. If you want to trade stocks, then find a discount broker.
I'm sure Vanguard or Fidelity would help walk you through the process.
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Originally Posted by p2 dog, p2
I was aware of the above before I started reading the Bogleheads book but that seems to be the general theme of the book, keep costs low and let that "expense money" compund for me, rather than watch it go to someone else's Benz
You might want to try the Boglehead forum:
http://www.bogleheads.org/
I believe strongly in passive investing, which is what you are leaning towards. It doesn't really matter if you do it in ETF's or low cost mutual funds. Figure out what asset allocation you need and then pick the funds or etfs that get you there. Here is the Boglehead Wiki, they have a 3 fund portfolio and a 4 fund portfolio that give you a good starting point.
http://www.bogleheads.org/wiki/Main_Page
Good luck