Saturday, October 8, 2011

Another reason to change my roth IRA

I've written before that I want to switch my roth IRA account from oppenhiemer to a discount brokerage, and I planned on doing it towards the end of this month.  I got a letter in the mail yesterday further reinforcing that decision. 
It was the oppenhiemer funds account statement.  Since my last statement, I have lost close to 15% of value in the fund.  This isn't to be unexpected, the markets have had a rough few months.  The kick in the teeth comes in the fees that I have been charged for the privilege of losing money.  At least with scottrade or something like that, I get charged once when I pruchase, and once a long way in the future when I sell.  Anyway, I hope to get the paperwork rolling on this after my big dividend check comes in on the 16th.

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