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amother
OP
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 Sun, Aug 06 2023, 3:33 pm
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account? If you want to buy index funds, and you have a Vanguard traditional IRA account, do you buy it through that or buy it through a separate account, because technically it's not retirement?
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amother
Coffee
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Mon, Aug 07 2023, 7:54 am
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Dh takes care of our finances. We have a Robinhood account. If I'm not mistaken you can buy Index funds that way.
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amother
Orchid
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Mon, Aug 07 2023, 8:00 am
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Pretty sure you’d need a separate account but why don’t you ask a rep?
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RM3
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Mon, Aug 07 2023, 8:17 am
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Not familiar with with Vangaurd. In Robinhood we have a regular account and an IRA account. Once money was deposited into each account we were able to invest each separate account into different individual stocks and/or funds as we decided. Does that answer your question? I assume vanguard is the same.
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Amarante
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Mon, Aug 07 2023, 9:33 am
If you have an existing relationship with Vanguard, you set up a separate IRA account.
It needs to be separate because there are rules that govern how it is reported on your taxes; how you access it and how it is taxed when you withdraw funds.
Just contact whoever you deal with at Vanguard and they will set it up for you.
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amother
Lotus
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Mon, Aug 07 2023, 10:13 am
Please clarify: you have a Vanguard IRA with various funds (possibly including Index) and you want a non-retirement investment account with index funds?
You can go onto their website, into your account, and just open a new non-IRA account. Tell them the funds you'd like to buy - choose Vanguard 500 Index - and indicate the source of these funds. (where you are transferring the money from).
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amother
OP
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Mon, Aug 07 2023, 10:37 pm
| amother Lotus wrote: | Please clarify: you have a Vanguard IRA with various funds (possibly including Index) and you want a non-retirement investment account with index funds?
You can go onto their website, into your account, and just open a new non-IRA account. Tell them the funds you'd like to buy - choose Vanguard 500 Index - and indicate the source of these funds. (where you are transferring the money from). | yes, I already have another IRA retirement account. Is there a limit to how much you're allowed to put into an IRA retirement account, I thought it was $6000 a year. Is that separate from employee retirement account? so I would need another account?
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