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Another Backdoor Roth Question

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  • #16
    I would not send a single dollar more.

    This is one of those rip the rug from under him kinda things.

    Do not have a conversation. There is nothing to converse about.

    You need to Google that Upton Sinclair quote.

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    • #17
      Thank you for the response and the advise of not starting a new plan but as an amendment to the prior plan.  Is there a big issue if my husband and I "separated" on this issue going forward?  He leaves his stuff at EJ and I move mine.  No worries - marriage still good - he just is very conflicted over this and can't seem to see it the way I do.

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      • #18




        Is there a big issue if my husband and I “separated” on this issue going forward?  He leaves his stuff at EJ and I move mine.  No worries – marriage still good – he just is very conflicted over this and can’t seem to see it the way I do.
        Click to expand...


        That sounds like the best solution to me. I can certainly understand his anxiety about hurting the feelings of a relative who thinks he is doing right by your hubbie.
        Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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        • #19
          sure let your husband stay, move yours, and definitely move the kids Roths. That 1.35% AUM fee on the kids accounts (plus an up front load?) will equate to tens of thousands of dollars lost when extrapolated over decades and that's only on the money already there; hundreds of thousands of dollars lost if they kept and contributed to the Roths there throughout their working life.

          Assuming they have $5,000 there now and add $2,500 per year, annual return 6%, the 1.35% fee compared to a 0.10% fee elsewhere reduces an account value 40 years from now from $449,000 to $321,000. Increase the contributions and return and the results are even more dramatic.

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          • #20




            Thank you for the response and the advise of not starting a new plan but as an amendment to the prior plan.  Is there a big issue if my husband and I “separated” on this issue going forward?  He leaves his stuff at EJ and I move mine.  No worries – marriage still good – he just is very conflicted over this and can’t seem to see it the way I do.
            Click to expand...


            I would still consider a new husband. Still might be cheaper than staying with EJ......

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            • #21
              LOL on the new husband.  Despite this - he is a great guy and I can't imagine taking this journey with anyone else.  I think I am not going to talk with his relative - I don't see much that I will gain with that.  I will move myself and put my 2018 money in the new place.  We have 529s with EJ - not sure what he is doing to help there.  DH points out that we can call him and he can write a check to the school.  Seems like an expensive phone call to make that money transfer happen.  DH is not happy with me leaving EJ but I think will let me do what I want.  Thanks for the advice and I will post an update.

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              • #22
                Would you take your car to a mechanic who had no training but felt like he could work on cars at a cost five times higher than a trained, qualified mechanic? Would you get cancer treatment from a close family member who had no training or qualifications but just felt like getting into that line of work to make money?

                It’s nice that your husband wants to throw a bone to a blood relative. Perhaps ask him what the largest check is that he’s willing to hand this relative each year. If your husband picks a number like $5,000 or $10,000, that could be cheaper than what you and your children are on track to pay with the current arrangement.

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