I want to open up an IRA with zero dollar and save 100- 200 $ a month. !) Is that possible? Or I have to come up with 5000- 6000 $ first? 2) Also, Do I have to pay the same amount every month? 3rd, what comapny you recomend for IRA? I am 48 years old and I am in Texas.
2007-03-01 11:56:48 · 4 answers · asked by mnk6 3 in Business & Finance ➔ Personal Finance
I would look into Scottrade. I just moved my IRA there and there are no opening, closing, annual or custodial fees. The big thing for me is that there are no fee to purchase mutual funds or bonds (since that is where a I place a lot of my retirement money). If you want to be a little more aggressive with your money, stock trades are only $7. You don't need money to open the account and they have local branches if you don't want to go on-line.
2007-03-02 06:18:42 · answer #1 · answered by amykins89 2 · 0⤊ 0⤋
You can open an IRA in a bank. You will not be able to open up a stock market IRA with no money first (anywhere I know of). You can put in whatever amount you want every month as long as you don't exceed the maximum.
2007-03-01 12:02:39 · answer #2 · answered by Nelson_DeVon 7 · 0⤊ 0⤋
I would try you local bank i know that sometimes you are able to open one there and choose how much you want to put in a month but i do believe you have to put in the same amount every month.
2007-03-01 12:04:52 · answer #3 · answered by Anthony m 1 · 0⤊ 0⤋
Good for you for saving for retirement. It depends on what you want to invest the money in, since some have minimum investments, and requirements, but you need to have the money first. If you want to buy mutual funds, you could probably deposit monthly.
2007-03-01 12:51:03 · answer #4 · answered by Don't Know 3 · 0⤊ 0⤋