Drove 45 minutes to a credit union only to pick the broker down the street

So last month I needed to move some savings into an IRA and I was dead set on going with my local credit union because my buddy Dave swore by their rates. I drove all the way across town to their branch, waited 20 minutes, and the rep basically shrugged and said they only offered a handful of index funds with a 1.5% fee. The broker office was literally next to the pizza place I stopped at on the way home, so I figured why not. The guy there set me up with a target date fund for 0.15% and even threw in a free consultation on my old 401k rollover. Has anyone else wasted a whole afternoon going the bank route before realizing the broker was the better deal?

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1 Comment

skylerm556d ago

Pretty sure that's just a rite of passage at this point. You gotta do the credit union pilgrimage so you can officially learn the lesson the hard way. My buddy did the exact same thing with a big bank, drove an hour, and ended up with a guy trying to sell him whole life insurance instead of an IRA. Meanwhile the Fidelity office was three blocks from his house the whole time. At least you got a free pizza stop out of it, that's practically a win in my book.