Q: My wife & I have an IRA each, mine being a roth, hers a traditional. These are with a credit union. My question is, is this money being invested or just sitting there drawing a little interest? I’m thinking of rolling them into a Vanguard account but we are part of the dumb masses as Boortz would say.
A: We cannot answer whether or not it is “invested”. Your credit union might or might not offer investment options in your IRAs.
Vanguard would be a good institution to use if you were looking to setup a self-directed investment account. Their fees are very low and investments are plentiful.
If you would like to get an objective opinion on what you should do, I would suggest that you schedule a free one-hour consultation with a fee-only firm, like ours, near you. Visit www.napfa.org to find a planner near you. If you are in Atlanta, there are many good options around town.