I’m in kind of an awkward situation in that my financial advisor is a friend of a close family friend. Can I just stop making any contributions until retirement and set up a Roth IRA somewhere else or would that not be allowed since they stand to gain nothing from the lack of sales charges? Any advice is greatly appreciated. If I transfer everything out of my account I’m assuming I’ll be hit with some gnarly fees. If I understand correctly, this would be about a 37% gain or 4.5% annually (not the 7-10% I had hoped for). What is FNA Primerica To help families better understand their. For 2024, the contribution limit is 7,000 for traditional and Roth IRAs. Now subtract the amount you have to invest, or your financial contribution to the project. The current balance of my account is sitting at 33.5k. The similarities between Roth and traditional IRAs. My stomach dropped when I found this subreddit and quickly realized I would have been better off investing elsewhere.įor the past 8 years I’ve contributed $200 monthly totaling around 24.5k. I wasn’t aware of any kind of controversy or negativity surrounding Primerica until the other day when a comedian I like joked that Primerica is a scam. I check the balance of this account every few months or so and I also have a 401k at work, but otherwise haven’t given much thought to retirement planning. I was made aware of the 5%(ish) sales charges from the beginning but as a 20 yr old with no frame of reference I assumed it was par for the course. Transfer on Death (TOD) Change of Beneficiary for Community Property State (CMS-28COM) N/A. Transfer on Death (TOD) Change of Beneficiary (CMS-28) N/A. In October 2015 when I was 21 I set up a Roth IRA with a rep at Primerica, who I had been referred to by a good friend of my mother’s. Transfer Non-Qualified to Retirement Plan Account (POL-NQ) N/A.

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