question about my ira and fees

The4Aces · #1 03-29-2005, 12:30 AM

hello. i am 18 and put $1800 into an ira after my summer job. it has done pretty well so far (~6% since i opend it). i went online today to check it through prudential and noticed they charged me $25. i know prudential has to make moeny but this seemed kind of crazy considering the ammount of money i had in there. I was also confussed because when i set up my account they charged $5 per mutral fund i baught in my IRA (4 total) so that is $45 total. Since i already payed the $25 for this year i will probably just stick with them, but for next year should i switch to somewhere else? if so recomendations are welcome.

BradleyT · #2 03-29-2005, 01:59 AM

A lot of them charge maintenance fees if your account is below $XXXX. Should have easily been found on a fees page on their website.

gvibes · #3 03-29-2005, 02:22 PM

[ QUOTE ]
A lot of them charge maintenance fees if your account is below $XXXX. Should have easily been found on a fees page on their website.

[/ QUOTE ]

Yep, this is likely the answer, and it really sucks. At Vanguard, it's something like 4-5k, per fund.

Your Mom · #4 03-29-2005, 02:42 PM

FYI, Ameritrade has no fees for IRA's no matter what the balance is.