Jump to content
Sign in to follow this  
Diane

Should Axa equitable funds to new Vanguard account

Recommended Posts

My district recently added Vanguard as a provider for our district. I am so excited about it because I have educated myself with the use of many financial podcasts and websites etc. I appreciate your podcast and site for a lot of my knowledge. My question is should I transfer funds from my Equitable account to Vanguard account while the market is down or should I wait?  Thanks in advance. 

Share this post


Link to post
Share on other sites

The problem with transferring between companies during these periods of extreme market volatility, is that your account will be liquidated and your money will be out of the market for at least a few days.  The markets have been up or down 5% or more almost every day for the last few weeks.  You might get lucky and make a lot, or just as easily lose a lot if the market jumps back up while you are out of the market.  I would wait until things calm down.

What you can do in the meantime is open your new account at Vanguard, and redirect your new contributions there instead of to Equitable.  Then when the dust settles, transfer the balance over if the surrender fee isn't too high.

 

Share this post


Link to post
Share on other sites

I agree with MNGopher that starting to contribute to your new Vanguard 403b account is the first step. I think I would go ahead start the transfer process. Yes it's a gamble but you can expect the market to do lots of ups and downs in the next few months, maybe years. Maybe I'm an optimist but I think that in a few weeks or month, when your AXA account is turned into cash, the market will still be down, which is what you want. I expect the market to be down through 2020. Of course I could be all wet, but . . . . . . .

Share this post


Link to post
Share on other sites
16 hours ago, MNGopher said:

The problem with transferring between companies during these periods of extreme market volatility, is that your account will be liquidated and your money will be out of the market for at least a few days.  The markets have been up or down 5% or more almost every day for the last few weeks.  You might get lucky and make a lot, or just as easily lose a lot if the market jumps back up while you are out of the market.  I would wait until things calm down.

What you can do in the meantime is open your new account at Vanguard, and redirect your new contributions there instead of to Equitable.  Then when the dust settles, transfer the balance over if the surrender fee isn't too high.

 

Thanks for your input.  This was exactly what I was thinking. I have already started my contributions to Vanguard, however was leery of switching right now with this yoyo market and all the uncertainties with the global crisis. 

Share this post


Link to post
Share on other sites
11 hours ago, krow36 said:

I agree with MNGopher that starting to contribute to your new Vanguard 403b account is the first step. I think I would go ahead start the transfer process. Yes it's a gamble but you can expect the market to do lots of ups and downs in the next few months, maybe years. Maybe I'm an optimist but I think that in a few weeks or month, when your AXA account is turned into cash, the market will still be down, which is what you want. I expect the market to be down through 2020. Of course I could be all wet, but . . . . . . .

Thank you krow36 for your input. Much appreciated. 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

×
×
  • Create New...