Latest responses to “Which Investment Companies Should You Open Your Roth IRA With?” Copyright 2013, MoneyBlueBook.com 469900 2011-03-05T13:08:48-08:00 Rachel Hi, I am 26 and I want to start a Roth IRA. I am planning on going back to school in the next year for nursing, but I had a nice tax return this year and I want to kick start my retirement (even though I'll be incurring more debt via school). Is this smart? I just want to start small $1,000 - $1,500 this year. I want to play it safe for the first few years, since I'm new and starting small. I don't really want to pay fees. Is Vanguard best? Eventually, I'll want to take more risks with stocks, but once I have more to play with. 432310 2010-08-22T18:34:38-07:00 muneer Here's the best roth ira brokerages available Fidelity Investments offers a no-fee IRA. There's a $2,500 minimum initial deposit, but this is waived if you commit to $200/month automatic contributions. They offer 4,500 mutual funds, about a quarter of which have no transaction fee. In short, you can open a no-cost IRA at Fidelity with a $200 starting investment if you invest in mutual funds and you agree to contribute $200/month. Apply for a Roth IRA with Fidelity. Source: http://www.definerothira.com It's also possible to open a no-cost Roth IRA at The Vanguard Group. To do this, you must elect to receive electronic statements and start with $1000 in the company's STAR fund. (The STAR fund is an mutual fund of mutual funds, a safe choice for beginners.) Additional contributions require a minimum of $100 unless you use their Automatic Investment Plan, in which case the minimum is $50. There are no fees to purchase the STAR fund. Start a Roth IRA at Vanguard. T. Rowe Price charges $10/year for Roth IRA accounts until you have a balance above $5,000, after which there is no fee. You need $1,000 to open your IRA, but this minimum goes away if you sign up to contribute at least $50/month with the Automatic Asset Builder. There are no sales fees or commissions to invest this money in T. Rowe Price mutual funds 432300 2010-05-06T10:47:55-07:00 Penny What is wrong with opening up a roth Ira with your local bank if they offer investments in mutual funds? 432290 2010-05-02T18:57:18-07:00 thuy I would like to open a Roth IRA, currently have a 403B with Fidelity. I am new to investment. I would like to invest in mutual funds and targeted funds and in the future, when I get more experience and learn more about the investment market, I would like to put my money into stocks. Question: should I open my Roth IRA with Fidelity to stick with the same institution or should I open t with Scottrade, since there's less commission and fees involved? Thank you 432170 2010-02-01T14:23:21-08:00 kevin Scottrade, aren't they one of the best discount brokerages. I would rate them above E-trade for sure because of the price and they have actual offices, unlike places like Tradeking and Zecco. 432260 2010-01-22T19:51:32-08:00 Mike Thanks for the advice I will check them out. 432240 2010-01-22T08:36:00-08:00 Jessica Mike: I've tried several brokerage places and liked Ameritrade best. The site is very intuitive, and their fees are simple. It's always $10 per trade no matter how many shares. 432280 2010-01-21T20:32:08-08:00 Mike I am looking for the right company to open a Roth IRA account. I mainly will invest in mutual funds and targeted funds, but I do want to put money into stocks also. The biggest concern of mine is to have low management costs and to have good tools. What do you think would be the best choice for me? 432220 2010-01-01T07:34:04-08:00 Jessica I went with Ameritrade. Their fee structure is very simple. It's always about $10 per trade, no matter how many shares. Plus their tools are pretty good, since they purchased thinkorswim.com 432230 2010-01-01T04:58:35-08:00 John Thank you for this information! I was about to sign up with Chase Roth IRA account, but after reading this information, I believe I should look into more options such as Vanguard and Fidelity.