conversation: User (Stellabluebell): "My husband and I have always been good savers, but bad with money. We had way too much money in a checking account for way too long because we just didn't know what to do with it. Several years ago we decided to start investing with a financial planner we got through a friend. I have been doing a lot of reading, and I'm tired of paying ridiculous fees for poor returns.\n\nI'm planning on starting a 3 fund portfolio with Vanguard. I want to do our Roth IRAs (already maxed for this year) and a taxable account. I'm thinking at first to just put in what I would have given to Ameriprise and then I would roll over the other accounts once I have a little more confidence.\n\nSo, my question is does anyone have any tips or other things I should know when making the switch?"
  Self: "Moving your Roth IRAs is easy, you just fill out a couple of forms.  Search for Vanguard's "IRA Transfer Kit" or call them.  In order to get out of the expensive funds Ameriprise has no doubt put you in, you will have to sell your shares, convert to cash, and move said cash to a Vanguard brokerage account.  This may incur taxes depending on how much, if any, the shares have gained in value.  You cannot transfer out of an Ameriprise fund and move the money to a Vanguard fund without selling."
  User (Stellabluebell): "Thanks for the feed back. I'll take some time concise ring taxes before I move things. At least I made more money than leaving it in a checking account. I just wish I'd done the research sooner."
  