looking to open my Ira and want to hook up direct withdrawl from my checking account.
2007-06-25 08:53:59 · 1 answers · asked by Terrence W 6 in Business & Finance ➔ Personal Finance
Analyzing what the "best" Roth IRA investment is difficult to do. Most IRAs consist of one or more mutual funds. It's entirely up to you to decide what stock funds, bond funds, or other investments make up your Roth IRA. Mutual funds consist of many stocks and other investments managed by a person or tied to a market index.
If you go to morningstar.com, they have free ratings and some free fund screeners to get you started. Five star rated funds are considered the best. It will also have the mutual fund company's contact info and minimum investment amounts. Pay close attention to the fund expense ratios. These are the annual expenses you pay them to manage your money. Under one percent is decent. Vanguard has many under .5%. Also, avoid funds with a front-load fee. Vanguard and Fidelity funds are two known for their low fees and decent performance, but there are a ton of funds to choose from. The main thing is to just get started. Good luck!
2007-06-25 09:50:53 · answer #1 · answered by Le BigMac 6 · 0⤊ 0⤋
Check out Vanguard and Fidelity's websites. You don't need much to start one, the websites should answer the exact amount though.
2007-06-25 16:08:03 · answer #2 · answered by Lee 7 · 0⤊ 0⤋