I want to open Roth IRA online but not at Fidelity becasue I have 401k account there. I don't want to pay big fees and I won't change my selection very frequently. No commercial please.
2007-08-01 14:47:43 · 7 answers · asked by byoc 3 in Business & Finance ➔ Personal Finance
Vanguard or T. Rowe Price are my first choices. Both have great retirement "target" funds.
Vanguard is the least expensive. T. Rowe Price tends to be a little more aggressive. Both are very good. Both are better than Fidelity. I like T. Rowe Price a little better.
ETF's are great for some people. But a clear understanding and regular "asset allocation" balancing is required. From what you wrote... I wouldn't suggest them (I do use them.. but I've been actively trading for 35 years).
2007-08-01 16:09:30 · answer #1 · answered by Common Sense 7 · 0⤊ 0⤋
I use Vanguard because their expense ratios are usually the lowest in the industry. The problem with Roth IRA if you're just starting out is the 4k annual limit (assuming you haven't exceeded the income limit of 95k-110k / yr). This means a small fee will be taken out of the fund until you have over 10k at which point there is no feed.
2007-08-01 14:51:27 · answer #2 · answered by Mr Blue 3 · 0⤊ 0⤋
It's very easy to open one - just fill out a few forms. But first you need to decide WHERE to open it - and that decision depends on what you want to invest in within the IRA. IRA custodians can be banks, mutual fund companies, brokerages, etc. It depends on what you want to invest in WITHIN the IRA account. The IRA account itself is just a "basket" within which you hold investments. It's not a specific type of investment by itself. For a "beginner", I'd recommend a mutual fund company like Vanguard, T. Rowe Price or Fidelity. Go with the appropriate Target Date mutual fund for a start. You can always diversify your investments later when you've accumulated more in the account.
2016-05-20 04:37:28 · answer #3 · answered by adelia 3 · 0⤊ 0⤋
Scottrade. No maintenance fees for a Roth and you can buy individual stocks and ETFs for $7/trade), and mutual funds (but the fees are higher).
Vanguard is only good for Vanguard mutual funds (which usually have higher maintenance fees than ETFs), and they charge you a maintenance fee if you don't meet a minimum balance.
2007-08-01 15:35:16 · answer #4 · answered by teehee 3 · 0⤊ 0⤋
Scottrade
2007-08-01 16:14:12 · answer #5 · answered by Quant 2 · 0⤊ 0⤋
I second the recommendation for Vanguard. They have the lowest fees of anyone.
2007-08-01 14:58:18 · answer #6 · answered by Lisa A 7 · 0⤊ 0⤋
Try ING Direct
www.ingdirect.com
2007-08-01 14:50:33 · answer #7 · answered by Anonymous · 0⤊ 1⤋