Why you don't use a bank for your IRA?

by Retirement Advisor | Oct 26, 2022 | Simple IRA | 14 comments

Last week we did a video on how your retirement is insured and asked the question, why don’t you want to have your IRA at your local bank or any bank for that matter?

There is one particular reason we don’t want to do this and today we will cover it.

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14 Comments

Newbeginnings on October 26, 2022 at 2:16 pm
Here’s another point! How do people lose there money? Greed and everyone is there to oblige you! Sometimes Safe is better!
asrickman1 on October 26, 2022 at 2:16 pm
How about Credit Unions? Would you compare them to passive banks mentality as well?
Matthew Henderson on October 26, 2022 at 2:16 pm
I’m unhappy with my current custodian institution. I’m searching for the best financial institution for traditional IRA.
Cushite Calisthenics on October 26, 2022 at 2:16 pm
I'm confused what about companies like Merril Edge? Don't they work with Bank of America but are a actual seperate investment company?
Saul Goodman on October 26, 2022 at 2:16 pm
2 years later, banks are under 1%.
Gabe L on October 26, 2022 at 2:16 pm
So banks are too conservative when it comes to investment
Dope on October 26, 2022 at 2:16 pm
I’m 45 and haven’t save any money for retirement I make 40k a year … what’s my best thing to do for my retirement.. pension / 41k /ira Or what should I do
Hannah Kim on October 26, 2022 at 2:16 pm
I opened roth ira at Bank of america (Merrill Edge) recently can i open vanguard roth ira and transfer contribution to vanguard? Thank you!
johnny22 on October 26, 2022 at 2:16 pm
So Im at a fork in the road. I have a 401k from an old employer that is terminating. I wasn't adding anything since I left, but the question is to rollover to another 401, IRA or cash out. And i have zero clue, where to look or what the smart moves would be. Any advice?
Ronald Snipes on October 26, 2022 at 2:16 pm
Imma be in Miami on the 4th of July week I'm really interested in Jazz wealth so i want to know more
Ronald Snipes on October 26, 2022 at 2:16 pm
Hey quick question where are you guys located
Tony Steel on October 26, 2022 at 2:16 pm
Appears as if a banker disliked the video. LOL..!!
Brandon Mills on October 26, 2022 at 2:16 pm
thanks bro
kene E on October 26, 2022 at 2:16 pm
Having my IRA with a bank is one of the worst decisions i ever took… well learnt my lesson