I'm currently using a full service broker for my Roth IRA's, If I did fund research myself would it make that much difference to use a different service such as a premium or discount broker?
2007-02-18 03:22:58 · 4 answers · asked by jocashins 2 in Business & Finance ➔ Investing
It makes a HUGE difference in fees, loads and commissions. Learn as much as you can and open an IRA with a discount broker. Investing doesn't have to be complicated. You could keep it very simple with a few low cost index funds (or ETFs) and you'll probably do better over the long haul than you would using your expensive broker and their expensive load funds.
2007-02-18 06:02:25 · answer #1 · answered by LongArm 3 · 0⤊ 0⤋
Years ago I used a full service broker who charged me $150 to $250 for my usual trades. Now I can buy the same stocks, same number of shares for less than $20 from many discount brokers.
2007-02-18 03:43:46 · answer #2 · answered by gosh137 6 · 0⤊ 0⤋
A more experienced investor may make you enough extra money so that you actually make more to use them. Otherwise, you will likely lose a little at first, but once you learn how to invest a little more wisely you will likely recoupe your losses. There are tons of places you can learn about investing online for free. Just do a search engine search and ask question here. I don't handle IRAs, so I am affraid I can't really help much. Good luck!
2007-02-18 03:31:13 · answer #3 · answered by Mr. Know it all 3 · 0⤊ 0⤋
I will help you for FREE.
Top 4 Answerer.
2007-02-19 08:07:04 · answer #4 · answered by Anonymous · 0⤊ 1⤋