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 Sat, 07 Nov 2009 22:04:14 -0500 http://wordpress.org/?v=2.8.5 hourly 1 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??

]]> By: Compare Roth IRAs http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/comment-page-1/#comment-15965 Compare Roth IRAs Wed, 28 May 2008 05:43:41 +0000 http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/#comment-15965 If you're a passive investor, then Vanguard is the best hands down. Nobody can beat their low cost index funds and impressive track record. For active investors who prefers stocks and other investments, I recommend Fidelity, Zecco, or Tradeking. I have a Fidelity Account, and even though the $20 trades can hurt, I love their tools and impressive research trackers. I keep my watchlist there, and it's easy to track hundreds of stocks in separate categories. Also, hat tip for the promotion codes. Will add those to my website as well. If you’re a passive investor, then Vanguard is the best hands down. Nobody can beat their low cost index funds and impressive track record.

For active investors who prefers stocks and other investments, I recommend Fidelity, Zecco, or Tradeking. I have a Fidelity Account, and even though the $20 trades can hurt, I love their tools and impressive research trackers.

I keep my watchlist there, and it’s easy to track hundreds of stocks in separate categories.

Also, hat tip for the promotion codes. Will add those to my website as well.

]]> By: Kevin http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/comment-page-1/#comment-5533 Kevin Sat, 29 Mar 2008 20:53:10 +0000 http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/#comment-5533 I changed jobs about a year ago and my former 401K was thru NewYorkLife. My new employer uses Fidelity for 401K. I do have a Roth IRA thru Fidelity, and was considering rolling my 401K from NYL to Fidelity just for ease of mgmt. However, in the spirit of diversification... i am wondering if anyone thinks it would be prudent to keep retirement savings diversified amongst different mgmt companies? How horrible would it be if some day we learned that Fidelity went down the path of Enron.. They are a massive company, and only getting bigger. I am wondering if perhaps bigger is not always better. Are there qualifying events to move IRA from one company to another? Or am I free to move anytime? Thanks for any advice. I changed jobs about a year ago and my former 401K was thru NewYorkLife. My new employer uses Fidelity for 401K. I do have a Roth IRA thru Fidelity, and was considering rolling my 401K from NYL to Fidelity just for ease of mgmt. However, in the spirit of diversification… i am wondering if anyone thinks it would be prudent to keep retirement savings diversified amongst different mgmt companies? How horrible would it be if some day we learned that Fidelity went down the path of Enron..
They are a massive company, and only getting bigger. I am wondering if perhaps bigger is not always better.
Are there qualifying events to move IRA from one company to another? Or am I free to move anytime? Thanks for any advice.

]]> By: Mzcap http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/comment-page-1/#comment-3970 Mzcap Sun, 02 Mar 2008 11:08:44 +0000 http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/#comment-3970 I am glad you use Fidelity Investments - it's a good choice. As a RIA, I offer retirement planning and investment management services through Fidelity. I found them to be very good. I am glad you use Fidelity Investments – it’s a good choice. As a RIA, I offer retirement planning and investment management services through Fidelity. I found them to be very good.

]]> By: Tony Leach http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/comment-page-1/#comment-3845 Tony Leach Wed, 27 Feb 2008 16:06:52 +0000 http://www.moneybluebook.com/how-to-open-a-roth-ira-account-and-which-broker-to-use/#comment-3845 moneybluebook - Thanks for including Zecco in the lineup here. I agree that we're great place to get started with your IRA - Roth or otherwise. Did you get a chance to check out ZeccoShare at all? It's another great part of Zecco (in my opinion), since you can check out what other people are investing in, like popular ETF's, and follow what top-performing investors are doing. Let me know what you think, if you get that chance! - Tony Leach (Zecco Product Manager) moneybluebook –

Thanks for including Zecco in the lineup here. I agree that we’re great place to get started with your IRA – Roth or otherwise. Did you get a chance to check out ZeccoShare at all? It’s another great part of Zecco (in my opinion), since you can check out what other people are investing in, like popular ETF’s, and follow what top-performing investors are doing.

Let me know what you think, if you get that chance!

- Tony Leach (Zecco Product Manager)

]]>