I recently transferred my old 401k account to a new IRA(fidelity). It has around 35k. Should I just buy ETFs and index funds or should I treat it like my brokerage account? Any tips for managing would help. TC 160k Yoe 4 #personalfinance #investments
I'm not telling you to buy bonds or REITs (that is a personal financial decision for you to make), but if you do buy either of them, it is better to do it in an IRA rather than a taxable brokerage account, since the dividends are taxed as ordinary income. The second best thing to buy in an IRA is any stocks you don't intend to hold long-term. But never buy tax-free muni bonds in an IRA.
Thanks for the suggestions. Good idea to move my non qualified dividend investments here.
If you actively trade I figure you might as well do it in a tax-advantaged account like an IRA so that you donât have to deal with capital gains taxes.
It feels hectic to actively manage 2 different trading accounts. I used to passively get $500 a month in my brokerage but now with my added IRA I seem to get the same in both the accounts combined. Underlying fact is Iâm not able to scale up my strategy and I donât want to replicate the same trades in both places.
Can you just roll it to your current 401k? Having an IRA prevents you from doing backdoor Roth IRA
I think I should have decided that before moving to IRA. Iâm not sure about rolling over now
You can reverse roll an IRA to 401k
Buy GBTC and ETHE
OP does Fidelity IRA charge trading fees or options , stocks, etfs ?
Yeah
thanks, thinking of opening one but donât want to spend money on trading fees
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That depends on your tolerance for risk. Trading stocks has greater potential reward but also higher risk. If you're young and have a strong stomach, then stock trading is probably ok. Then again, diversifying so ypu split between those strategies will help balance the risk. Only trade with money you are ok losing.
Iâm definitely not ok losing my IRA since thatâs a major chunk of my retirement savings