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soulman
10-29-2007, 01:10 PM
With an IRA is it common to pay fees every year of like 40 bucks?
gman
11-02-2007, 10:23 AM
With an IRA is it common to pay fees every year of like 40 bucks?


That would depend on where you have your IRA. If it is with a mutual fund company like Fidelity or Vanguard they charge you yearly fees to manage your money. Each mutual fund has an "expense ratio" associated with it which is the total amount you pay in management fees to them to invest in that fund. They also can hit you with an extra yearly fee if the total amount you have invested is less than say $50,000. That fee is probably the $40.00 you are talking about.

-G