I have a 401k at my previous employer. I was thinking about rolling that over to a brokerage and manager it on my own? Is it a good idea? Do people do that?
I would save that 0.8% or whatever fee, correct? But that isn't much. Also, I would incur trading costs (commissions) but wouldn't the existing asset management company incur commission costs as well?
I was also planning to do options trading on that account. Is it a bad idea?
Finally, I'm obviously not an experienced trader (especially compared to an asset management company) so should this make me more reluctant of managing my own IRA?
I would save that 0.8% or whatever fee, correct? But that isn't much. Also, I would incur trading costs (commissions) but wouldn't the existing asset management company incur commission costs as well?
I was also planning to do options trading on that account. Is it a bad idea?
Finally, I'm obviously not an experienced trader (especially compared to an asset management company) so should this make me more reluctant of managing my own IRA?
Managing IRA on your own
