I want to open a Roth IRA at Vanguard, should I transfer my zero balance existing Roth to it, or...

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[ARCHIVED THREAD] - I want to open a Roth IRA at Vanguard, should I transfer my zero balance existing Roth to it, or...

Posted: 6/23/2017 1:58:46 AM EDT

I have a Roth that is with Company X right now, I opened it probably 10 years ago, but never really put money into (i know, it's a long story) so it has about $300 in it right now. I'd like to open up a Roth at Vanguard and start putting money it from me and my wife.

Should I just close the existing Roth then open new Roth at Vanguard?

I guess I'm asking if there are any benefits to me transferring such a little account over to them or not.

Posted: 6/23/2017 2:25:17 AM EDT

[#1]

Have you checked to see if you can back pay any of it? I can't remember it's worth a look.

Posted: 6/23/2017 2:30:31 AM EDT

[#2]

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Quoted:
Have you checked to see if you can back pay any of it? I can't remember it's worth a look.

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I didn't know that was an option. Thank you!!

Posted: 6/23/2017 9:39:26 AM EDT

[#3]

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Quoted:

I didn't know that was an option. Thank you!!

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Quoted:

Quoted:
Have you checked to see if you can back pay any of it? I can't remember it's worth a look.

I didn't know that was an option. Thank you!!

You can't do that!

Posted: 6/23/2017 9:40:18 AM EDT

[#4]

I would transfer it because $300 is $300...and Vanguard will do it for you.

Posted: 6/23/2017 10:10:58 PM EDT

[#5]

Sorry I thought within a certain time frame you could contribute last years amount. I guess I was thinking HSA account. Again sorry.

Posted: 6/24/2017 5:30:47 AM EDT

[#6]

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Quoted:
Sorry I thought within a certain time frame you could contribute last years amount. I guess I was thinking HSA account. Again sorry.

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No worries. I'll just transfer it over to Vanguard.

Posted: 6/24/2017 9:43:29 AM EDT

[#7]

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Quoted:
Sorry I thought within a certain time frame you could contribute last years amount. I guess I was thinking HSA account. Again sorry.

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Well, sort of correct: you have up until 15 April (or whenever tax day is) to contribute to last year's IRA but can't go back any farther than that...and it's now June.

Posted: 6/24/2017 10:14:43 AM EDT

[#8]

Between Vanguard and your bank, you should be able to set up a fire-and-forget monthly deposit.

Pay yourself first.

Posted: 6/24/2017 3:26:25 PM EDT

[#9]

Depending on your age you may be eligible for "catch up" contributions. For a roth that would be $1k. Your best bet is to talk to someone at Vanguard.

Posted: 6/24/2017 3:42:56 PM EDT

[#10]

Quote History

Quoted:
Between Vanguard and your bank, you should be able to set up a fire-and-forget monthly deposit.

Pay yourself first.

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That's what I do. Figure at the maximum yearly contribution of $5500, divided by 12 months, divided by two contributions a month. Too easy, and keeps me honest.

[ARCHIVED THREAD] - I want to open a Roth IRA at Vanguard, should I transfer my zero balance existing Roth to it, or...

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