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Old 01-16-2005, 02:39 PM
La Brujita La Brujita is offline
Senior Member
Join Date: Jul 2003
Posts: 517
Default Basic Questions About Retirement Investing

A couple of basic questions. Thank you very much in advance for any help and I will research as well on my own but just looking for starting information.

1. I am currently "self employed" and have about 35k in a 401k from my previous company. I want to roll it over into an IRA account. I am thinking of using Citibank just since I do most of my banking there. Is there much of a difference where you roll over your 401k in terms of fees or other benefits? I know it says there is no annual fee but I am wondering if there are hidden costs that differ from ETRADE or perhaps better options.

2. Last year I invested $3000 in a Roth IRA. I intend to buy another this year. Am I correct that $3000 is still the limit? I know it is increasing to $4000 but if I understand correctly it is for tax year 2005. Also, very basic question but is the limit for the combination of what you invest in a traditional IRA and Roth IRA, I assume so. In other words I can't invest $3000 into each of an IRA and a Roth IRA correct?

3. I have a Putnam Roth IRA from about 4-5 years ago that has not done very well. Can I roll that over into another company or fund? It is Putnam Investors Fund CL-B if that means anything to anyone.

4. Any good links for mutual funds to invest in when looking at 30 or so year horizon once I rollover my 401k?

5. I am considering investing a few thousand in a mutual fund and I decided to just invest in an S&P indexed fund. Will there be much of a difference in fees if I do it from Vanguard, Citibank, ETRADE etc.? Also, should I worry about timing payments, ie x hundred per month or just dump it in whenever.

Thank you very much in advance, I know I asked a lot of questions some of which have probably been answered many times. Feel free to only respond to some.

If you choose to respond and want my two cents on a few limit or tournament nl hands (for whatever marginal benefit my eyes may provide) feel free to send them my way.

Best regards
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