I want to start a Roth IRA and start investing in diversified mutual funds. How do I start?

Answer 1

Contact a brokerage firm or a fund management company. They will send you brochures on the forms required and the procedures to follow (someone other than you must be the custodian of an IRA, and it is usually the broker/fund manager). Fill out the forms, send in the money, and you have a Roth IRA.

Answer 2

you already have several good answers. Allow me to add a slightly different answer. First, decide on which mutual funds you wish to invest in. You have a wide variety of options. If you should choose closed end mutual funds, you will indeed have to set up an account with a stock broker.

If on the other hand you choose open ended mutual funds, you can work directly with the mutual fund companies and do not have to use a broker. The big advantage is that some mutual funds are not traded through brokers and with other mutual funds that are traded through brokers, the brokers change a commission. By buying directly from the mutual fund company you can avoid all of that. You can set up as many Roth IRA accouns as you like. The only restriction is that you annual contribution must not be over the maximum, current somewhere arount $4000 (it increases each year and I am not certain what the current max is).

Of course have all of your IRA at one place certainly makes it easier to manage.

Answer 3

Open the Roth IRA online brokerage account through scottrade, Etrade, or Ameritrade

In the meantime, learn how to invest the right way
Check out the book Trader Almanac by JEFF HIRSCH

Answer 4

Try contacting Primerica Financial Services. They are in the phonebook, or also have a website, their services are free, and they do not have a minimum investment needed to start. You can start a fund for as little as $25 a month. They will also give you a complimentary Financial Needs Analysis, to show you how to become debt free and financially independent. Good luck

Answer 5

right here is one ingredient to keep in mind with reference to the Roth IRA account. there is on no account any tax on it the place as there is on your 401k. This will become substantial while pondering your asset mixture. earnings generating investments are taxed on the completed tax fee as would be your 401k. subsequently it rather is clever to invest a minimum of a few of your 401k in earnings generating sources--bonds, LPs, REITs. The earnings from each and each of those is taxed on the completed tax fee besides. Now via fact the Roth IRA is on no account taxed, it is likewise clever to place those varieties of sources into the Roth IRA additionally. and likewise fairness investments. What you neglected to point are investments exterior of those 2 autos. in case you have some, they could be investments that would desire to be taxed on the capital helpful properties fee--fairness investments. easily, until eventually you're interior the utmost tax bracket it rather is clever to have a component of your fairness investments exterior of a 401k. via doing so the entire tax invoice would be decreased, incredibly in case you're a protracted term investor. in case you have the least hankering to invest a number of your money in gold and silver those easily could be interior a Roth IRA. the two are taxed as collectibles otherwise. yet another ingredient to think approximately in regard to the 401k is that throughout the time of years to come the tax fee would desire to easily be bigger, possibly plenty bigger, than it presently is. considering which you extremely have no determination of putting non-mutual fund investments interior a 401k aside from possibly business enterprise inventory, it rather does make experience to invest Roth IRA money in business enterprise shares instead of mutual money. yet be careful. it rather is extremely tempting for many to invest with their Roth IRA account incredibly short term paying for and merchandising which otherwise may be taxed on the completed tax fee. that would desire to be a sturdy thank you to decrease that fee of the Roth account. Be in basic terms a sprint careful. make investments interior the likes of MCD, WMT, JNJ, BDX, KO, etc. or perhaps ETP with its 8% dividend or PAA with its 7.5% dividend. and don't make investments it in fewer than 5 diverse agencies.

Answer 6

call vanguard or fidelity 800 xxxxxxxx