Roth Ira-What company is the best?

Question

I already have a 401k that I invest in and I am going to open up a ROTH IRA also. What is the best company to go with, and what funds? I have looked at Vanguard and Fidelity so far. Does anyone have any suggestions on who to invest with and also once I get to their website where do I allocate my money? Any informative advice would help!

Answer 1

Ashley: First of all there is no such animal as a ROTH IRA company!

A ROTH is a type of account from which you purchase other investments and they grow tax-free.

You have to open an IRA account at a brokerage house or directly purchase mutual funds from a mutual fund company using the IRA method (they will open a ROTH IRA account in your name.)

If you are good at picking stocks, bonds or other investments then you might want to look at opening a brokerage account and do your own investing.

If not then you have to do the work of investigating which type of investments would suit your investment goals and perhaps purchase several mutual funds which may follow your thinking.

Whatever you do it is your responsibility to keep up to date on the performance of your investments and make appropriate decisions to keep your "portfolio" on track with your goals.

I suggest that you never ever ask a public forum for investment advice, the answers you get are too open to personal interests and you will never be able to pick the honest ones from the kooks!
Everyone (mostly) has good intentions but you have to rely on yourself or an experienced professional to advise you.

There are hundreds of web sites available to help educate you and yes, there are many fund families around with good funds to achieve your goals, remember that, "your" goals, not someone elses.

Answer 2

It depends on a lot of factors. How much do you have to invest in this account initially? Over the longer term? Do you want investment advice from the IRA provider? Considering all your other investments, how do you want this IRA invested? Anyone that would advise you on on how to invest this IRA without knowing your total financial picture, your personal situation, and your comfort level with different types investments and tolerance for risk, is not doing you any favors, well-intentioned though they may be.

As far as companies go, Vanguard and Fidelity are both OK. You could definitely do worse. They will be favoring their own funds, of course. You might also take a look at the "fund supermarket" companies like Schwab, TD Ameritrade, etc.

Answer 3

Try Schwab or Fidelity Brokerage. They can help with asset allocation & they offer Mutual Funds from many different Mutual Fund companies. You can also buy "ETF's" through them (a great place for some of your long term money, esp. S&P500 type ETF's).

We are heavily invested in ROTH IRA's. It's a great way to go. Good luck!

Answer 4

There is a lot to be learned about before you want to do it on your own. The comoanies that you mention might be good because they in addition to providing the service of a custodial (keep your account) have their onw mutual funds and have good tools and info online that will givew you hints on what selection of investments to make.

If you are willing to learn more about chosing stocks or maybe easier - mutual funds yourself a broker that has access to more than just one family of funds is somethign I would recommend. Vangard will always only recommned their funds. Fidelity will always recommend theirs. Not that they are bad but there are tens more if not hundreds fund families.

Use a site like morningstar.com to learn about selecting funds and investing in general.

Use a broker like firtrade.com that will allow you to trade any mutual fund and will not charge a dime for that. - yes $0 mutual fund investing.

Answer 5

try these links perhaps u'll find more info there.

http://www.lofinance.blogspot.com