I opened a Fidelity account to benefit from my workplaces 401(K), and since I changed the email to my personal email, I also opened a Traditional IRA, Roth IRA, and a Fidelity Go account. I’m assuming I’ll be able to roll over the funds from my 401(K) into either IRA if / when I leave my current workplace.
I saw both gains and losses on the free market, and I’m no expert at trading. So, I asked myself: Should I withdraw my brokerage (Robinhood) money and deposit it all into maxing my IRA’s and the rest into the Go account?
In terms of what I purchase on the IRA’s, it’s mainly ETFs such as VOO, VUG, QQQ, and I’m looking to diversify more. As for the go account, the markets went down the past few days so naturally I saw some losses there but I made back some pennies in dividends, so there’s that.
Back to the question; why shouldnt I dump all my funds into the Go account? How does the Go account get taxed when I transfer the funds back to my bank account? I don’t mind paying a small fee if I’ll be seeing returns that make the fee worth it.
Open for discussion and feedback, and thanks again!
Submitted August 07, 2024 at 08:11PM by Vizekoenig_Toss_It https://ift.tt/2vBPLK0
