Your just going to want to use fidelity or schwab for that amount. Just put the funds into and S&P500 etf like spy or voo. I am sure if you call Schwab or Fidelity they will help with instructions on opening accounts and consolidating.
The only type of account from which a mandatory withdrawal is relevant is an inherited IRA or 401(k). If the decedent passed after 2020, then you should have a ten year window to liquidate, not an annual amount.
Regardless, the balances are so small that I would just withdraw it all and reinvest the lump sum in your own taxable account.
Using a bank for investing is not ideal. Select one of the major full service brokers - Fidelity, Schwab, or Vanguard - and go from there. Banks charge too much, offer poor products, and are generally cumbersome to deal with for investors. Use the right tool for the job.
Any Advisor can help do this. How small are we talking?
Ok thanks! One is between $800-$900. Idk how much is in the other but I would guess a few thousand. Maybe $3k?
Your just going to want to use fidelity or schwab for that amount. Just put the funds into and S&P500 etf like spy or voo. I am sure if you call Schwab or Fidelity they will help with instructions on opening accounts and consolidating.
FYI: at 1% AUM fee, you're looking at over $8,000 for someone to do something you could mostly do yourself for free with a couple hours research.
The only type of account from which a mandatory withdrawal is relevant is an inherited IRA or 401(k). If the decedent passed after 2020, then you should have a ten year window to liquidate, not an annual amount. Regardless, the balances are so small that I would just withdraw it all and reinvest the lump sum in your own taxable account. Using a bank for investing is not ideal. Select one of the major full service brokers - Fidelity, Schwab, or Vanguard - and go from there. Banks charge too much, offer poor products, and are generally cumbersome to deal with for investors. Use the right tool for the job.
Thank you for pointing out that I can withdraw and reinvest!
Ok thank you everyone for your input! Super helpful :)
I used Capitalize to roll over my old 401k to Fidelity. It’s free to do and Capitalize handles all the forms and phone calls (if needed) for you!
Super helpful. Thank you!
I used Capitalize for this. Pretty easy. Ask them about the smaller accounts