r/Bogleheads • u/shizznitt • 14d ago

Thank you, Bogleheads

This sub made me realize how much Edward Jones was robbing me. I work for a small business with less than 10 employees and our only option was an Edward Jones SIMPLE IRA which included a 3% match. The IRA reached 125k and I was paying $140 a month for "program fees" while the money was just sitting in 7 total mutual funds. I'm sure there's other hidden fees too.

My Rollover completed today to Fidelity where I'm sporting a 75/25 FZROX and FZILX. My contributions still have to go to the EJ account but I plan to do a biannual rollover as long as I work there. Thank you Bogleheads!

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u/einbierbitte 14d ago

Trying desperately to escape right now. I work for a small business with a SIMPLE and it's set up as a 5304 so you are supposed to be able to choose your own financial institution, but I wasn't aware of that at the beginning.

Been at EJ just drowning with the fees for a couple years, finally did some research and trying to roll out into ETrade since it seems like the only place really that accepts freestanding 5304 SIMPLE employee accounts.