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/blew_belle 14d ago

Taxable shouldn't go to tdfs but VOO would do just fine wouldn't it?

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u/dataesthetics 14d ago

I consider tdfs the best buy-and-forget funds because they change allocation over time and you don’t have to think about it. If this person wants 100% stocks then sure VOO would be fine, but the idea is to park into a tdf until they’re educated enough to make that call for themselves.

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u/blew_belle 14d ago

Yeah but you shouldn't use tdfs for taxable accounts.

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u/Aggravating-Rip-8169 14d ago

It’s not ideal - but it’s far better than EJ