Archive for the Retirement

Should I do a Roth IRA Early Withdrawal?

Almost six years ago I opened a Roth IRA in a brokerage account.  I started the account with just $500, and I did it as more of a favor to the financial adviser that worked for the bank.  Needless to say, I haven’t made any contributions to it since I actively contribute to my 401k offered through my employer.  Every year there is a $15 annual fee, and each year the Roth IRA automatically sells some of my mutual funds to pay for that annual fee.  In addition to losing money with the annual fee for the brokerage account, the value has gone down due to the stock market fluctuations. I’ve been contemplating closing out my Roth IRA.  It doesn’t make sense to have an account that costs me money each year that I’m not going to make contributions to.  I talked with my financial adviser and she agrees that we should just close it out.  It doesn’t make sense financially.  I’ll keep contributing to my 401k, and we’ll leave Mr. Money’s Roth IRA as it is (it’s also a […]

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I Sold All of my Company Stock

I logged in to check my 401k performance the other day and realized that about 35% of my 401k portfolio was in company stock.  I personally don’t allocate my contributions to company stock, so it was all from the company match.  While I am thankful for the 401k match, I also don’t like having that much of my 401k tied up in company stock.  I don’t know much about investing, but I do know that it’s not good to have your eggs in one basket, especially in your company stock. I am reminded of a couple years ago when the bank I work for was not doing so well.  At one point our stock was $45 a share.  Before we were bought out, our stock was down around $2.  Many people, including the branch manager and licensed investment adviser, had their entire 401k in company stock.  To say they lost money would be an understatement.  Unfortunately, I know this happened to many others as well, and not just those who worked at the bank. I sold all the stock and […]

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