Comments on: How To Open A Roth IRA Account And Which Broker To Use http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/ Personal Finance Beyond Credit Cards and Balance Transfers Wed, 08 Sep 2010 20:57:25 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: muneer http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/comment-page-1/#comment-277843 muneer Sun, 22 Aug 2010 22:34:38 +0000 http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/#comment-277843 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 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

]]> By: Penny http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/comment-page-1/#comment-176043 Penny Thu, 06 May 2010 14:47:55 +0000 http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/#comment-176043 What is wrong with opening up a roth Ira with your local bank if they offer investments in mutual funds? What is wrong with opening up a roth Ira with your local bank if they offer investments in mutual funds?

]]> By: thuy http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/comment-page-1/#comment-173761 thuy Sun, 02 May 2010 22:57:18 +0000 http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/#comment-173761 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 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

]]> By: kevin http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/comment-page-1/#comment-130603 kevin Mon, 01 Feb 2010 18:23:21 +0000 http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/#comment-130603 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. 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.

]]> By: Mike http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/comment-page-1/#comment-127284 Mike Fri, 22 Jan 2010 23:51:32 +0000 http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/#comment-127284 Thanks for the advice I will check them out. Thanks for the advice I will check them out.

]]> By: Jessica http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/comment-page-1/#comment-127202 Jessica Fri, 22 Jan 2010 12:36:00 +0000 http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/#comment-127202 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. 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.

]]> By: Mike http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/comment-page-1/#comment-126948 Mike Fri, 22 Jan 2010 00:32:08 +0000 http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/#comment-126948 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? 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?

]]> By: Jessica http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/comment-page-1/#comment-121556 Jessica Fri, 01 Jan 2010 11:34:04 +0000 http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/#comment-121556 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 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

]]> By: John http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/comment-page-1/#comment-121529 John Fri, 01 Jan 2010 08:58:35 +0000 http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/#comment-121529 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. 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.

]]> By: Finanseer http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/comment-page-1/#comment-119640 Finanseer Sat, 26 Dec 2009 04:48:46 +0000 http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/#comment-119640 Melissa: I would recommend Vanguard, if you don't plan on active trading. You can open a Roth IRA and allocate to a target retirement fund, or a wide variety of other index funds. Low costs and easy even for beginners. Melissa:

I would recommend Vanguard, if you don’t plan on active trading. You can open a Roth IRA and allocate to a target retirement fund, or a wide variety of other index funds. Low costs and easy even for beginners.

]]> By: Melissa http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/comment-page-1/#comment-116308 Melissa Fri, 11 Dec 2009 01:29:59 +0000 http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/#comment-116308 I am searching for the perfect roth IRA. I worked part time at a hospital and have money that is awarded and vested to me. I would like to invest in a Roth IRA, but do not know how to determine which one is best for me. I am 27 yrs old and need advice. Please help. I am searching for the perfect roth IRA. I worked part time at a hospital and have money that is awarded and vested to me. I would like to invest in a Roth IRA, but do not know how to determine which one is best for me. I am 27 yrs old and need advice. Please help.

]]> By: Raymond http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/comment-page-1/#comment-62533 Raymond Mon, 30 Mar 2009 07:03:32 +0000 http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/#comment-62533 For everyone in general (since I've been receiving emails regarding this question)...To be eligible to contribute to an IRA or Roth at all, you must meet the earned income minimum requirement. In order to make a contribution to your IRA or Roth retirement broker account, you must have taxable compensation (not taxable income from investments). For example, if you make only $3000 in taxable compensation, your maximum IRA contribution can only be $3000 for the year. As always, remember that IRA's and Roth's are use it or lose it retirement vehicles. You can't make back contributions for past years. For everyone in general (since I’ve been receiving emails regarding this question)…To be eligible to contribute to an IRA or Roth at all, you must meet the earned income minimum requirement.

In order to make a contribution to your IRA or Roth retirement broker account, you must have taxable compensation (not taxable income from investments). For example, if you make only $3000 in taxable compensation, your maximum IRA contribution can only be $3000 for the year.

As always, remember that IRA’s and Roth’s are use it or lose it retirement vehicles. You can’t make back contributions for past years.

]]> By: Jessica http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/comment-page-1/#comment-60095 Jessica Sat, 14 Mar 2009 13:40:07 +0000 http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/#comment-60095 Raymond: Thanks for the reply. Yes, I emailed Fidelity yesterday and will see what they have to say. What are your experiences with Roth IRA transactions? I suspect the various brokers need to be competitive. Should I expect Roth IRA transactions to be similarly priced as standard stock trades/transactions? Raymond:
Thanks for the reply. Yes, I emailed Fidelity yesterday and will see what they have to say. What are your experiences with Roth IRA transactions? I suspect the various brokers need to be competitive. Should I expect Roth IRA transactions to be similarly priced as standard stock trades/transactions?

]]> By: Raymond http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/comment-page-1/#comment-60041 Raymond Sat, 14 Mar 2009 05:04:26 +0000 http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/#comment-60041 Jessica, Good grief, That definitely does not look right. I think there is a maximum cap but I'm not absolutely certain on this. I would advise you to direct this particularly Roth IRA commissions question to Fidelity customer support. They have an excellent online chat feature for customer questions and ample telephone support to match. I've bombarded them with a myriad of detailed questions before and they've always answered them thoroughly. Jessica,

Good grief, That definitely does not look right. I think there is a maximum cap but I’m not absolutely certain on this. I would advise you to direct this particularly Roth IRA commissions question to Fidelity customer support. They have an excellent online chat feature for customer questions and ample telephone support to match. I’ve bombarded them with a myriad of detailed questions before and they’ve always answered them thoroughly.

]]> By: Jessica http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/comment-page-1/#comment-60031 Jessica Sat, 14 Mar 2009 03:50:49 +0000 http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/#comment-60031 I've been looking at Fidelity, and received this from their support people regarding trading within the Roth IRA: 1 to 1,000 shares: $10.95 1,001 or more shares: $10.95 plus $0.015 per share over 1,000 shares Minimum: $10.95 Maximum: 5% of principal, subject to minimum commission So, in theory, if I had $100,000 in my Roth IRA, and wanted to sell all, it would cost me $5000?? I’ve been looking at Fidelity, and received this from their support people regarding trading within the Roth IRA:

1 to 1,000 shares: $10.95
1,001 or more shares: $10.95 plus $0.015 per share over 1,000 shares
Minimum: $10.95
Maximum: 5% of principal, subject to minimum commission

So, in theory, if I had $100,000 in my Roth IRA, and wanted to sell all, it would cost me $5000??

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