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Fifth Third bank for Roths/Investments? |
Please help. My husband and I have changed jobs and rolled our 401s from previous companies into Roths and 5th 3rd. This happened 1 year ago. We're losing money on it. Is that because the market is so bad or because we are getting charged a premium to do this at a bank? A friend of mine told me we should be working with an investor and NOT a bank or Merrill Lynch type of place. Please advise me as I am a professional woman, but one is not totally tuned in financially speaking. Thanks in advance. markets are generally down, which explains why most folks stock investments are down. You need to understand what the % of cost that the bank and fund managers get. You could go directly to fidelity or other well know investment places and choose a diversified age based index fund that changes as you age and has low fee. they might give you some money to switch too. I know little about 5th third other than it is a large finanacial institution in the midwest. It proabably is OK. You're fine. It's not what they're charging you, it's because the markets are WAY down from there highs last year. Hang in there and it should work out. |
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