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Started By
Message
Vanguard vs Fidelity vs others for Roth IRA
Posted on 3/11/20 at 3:17 pm
Posted on 3/11/20 at 3:17 pm
I’m wanting to open a Roth and begin contributing monthly. I will have $1000 to do so at the end of the month, and will contribute whatever the max is until retirement. So obviously this is long term. I want to start in the right spot though so when I choose one or the other, I’m going to stick with it. Ideally, I’d have a portfolio that is 4 index funds making up 80% of the account and then have 20% of the account to be able to try to capitalize on individual stock trading (not day trading, more like trend trading I suppose)... Or maybe I don’t need that many different index funds, maybe only 2 or 3... That’s not the point right now, although any opinion on that is worth consideration.
The meat of it is a lot of y’all on here look to be Vanguard guys, but looking around and researching, Fidelity looks more user friendly. This is according to a NerdWallet article specifically. One thing that did give me pause on Fidelity is when I google things about highest performing index funds over 10-15-20 years, a couple of Fidelity’s highest performer are “not open to new investors”. What’s up with that? Is that common across all services? Would I be able to buy those funds after a certain amount of time?
I’m going to continue researching, but it’s also time to shite or get off the pot in regards to opening an account somewhere... So, I come to y’all to help me out here. Any help and info is appreciated. Link the simplest articles or the most complex. I’ll read them all. Hopefully y’all will help me, and anybody else that has the same questions.
The meat of it is a lot of y’all on here look to be Vanguard guys, but looking around and researching, Fidelity looks more user friendly. This is according to a NerdWallet article specifically. One thing that did give me pause on Fidelity is when I google things about highest performing index funds over 10-15-20 years, a couple of Fidelity’s highest performer are “not open to new investors”. What’s up with that? Is that common across all services? Would I be able to buy those funds after a certain amount of time?
I’m going to continue researching, but it’s also time to shite or get off the pot in regards to opening an account somewhere... So, I come to y’all to help me out here. Any help and info is appreciated. Link the simplest articles or the most complex. I’ll read them all. Hopefully y’all will help me, and anybody else that has the same questions.
4
Posted on 3/11/20 at 3:20 pm to prostyleoffensetime
I've had employer sponsored 401k's through both and liked Vanguard better. My Raymond James advisor hates Fidelity with a passion. He says they are a pain in the arse to deal with.
ETA: I trade through my individual brokerage account with TDA and like it.
ETA: I trade through my individual brokerage account with TDA and like it.
This post was edited on 3/11/20 at 3:58 pm
Posted on 3/11/20 at 3:24 pm to prostyleoffensetime
Depends on what you want to do.
Autopilot regularly scheduled investment - Vanguard
Trading? I’ve always liked TD
You don’t have enough to have multiple funds, so if you want multiple, go with ETFs. Drawback there is you can’t have a scheduled investment (that is automatic).
Autopilot regularly scheduled investment - Vanguard
Trading? I’ve always liked TD
You don’t have enough to have multiple funds, so if you want multiple, go with ETFs. Drawback there is you can’t have a scheduled investment (that is automatic).
Posted on 3/11/20 at 3:34 pm to TigerDeBaiter
quote:
Autopilot regularly scheduled investment - Vanguard Trading? I’ve always liked TD
Well long term, I would prefer to have a percentage doing both. I want to be fairly hands off with most and somewhat hands on with some... Should I open accounts with separate services at some point?
quote:
You don’t have enough to have multiple funds, so if you want multiple, go with ETFs. Drawback there is you can’t have a scheduled investment (that is automatic).
So, buy the ETF’s now and down the road after I’ve built it to say 10k (just a generic number), move to a different set of funds? Or buy one index fund up to 5k, then buy another to 5k, and so on?
This post was edited on 3/11/20 at 3:37 pm
Posted on 3/11/20 at 3:47 pm to prostyleoffensetime
My Roth is with Vanguard and I've been very pleased with them. However, when Fidelity and Schwab both announced their no fee mutual funds back in like mid-2018, I opened brokerage accounts with both and have been funding them after I meet my annual Roth contribution limits. Have had no trouble with any of them, but I've only ever used Vanguard's customer service which was beyond excellent.
I know there's genius in simplicity, but sometimes taking advantage of a good deal/product is worth doing. Think of it like diversification in a way, I guess. Now the race to the bottom is on though and I think everyone is or will soon start offering some of those no fee funds. In any case, it's a great time to be a "main street" investor
I know there's genius in simplicity, but sometimes taking advantage of a good deal/product is worth doing. Think of it like diversification in a way, I guess. Now the race to the bottom is on though and I think everyone is or will soon start offering some of those no fee funds. In any case, it's a great time to be a "main street" investor
Posted on 3/11/20 at 8:00 pm to prostyleoffensetime
quote:
Well long term, I would prefer to have a percentage doing both. I want to be fairly hands off with most and somewhat hands on with some... Should I open accounts with separate services at some point?
At some point, probably, but you should start simple. Buy one or maybe two ETFs.
quote:
So, buy the ETF’s now and down the road after I’ve built it to say 10k (just a generic number), move to a different set of funds? Or buy one index fund up to 5k, then buy another to 5k, and so on?
I believe you can convert mutual funds to etfs with vanguard, but not the other way around. If it’s in a non taxable account you could just sell the fund and then buy and etf. No big deal.
Or just keep the etfs. The only benefit to the mutual funds is the ability to set up automatic investment. For example, you tell vanguard I want to max out your Roth and what the frequency is (weekly, monthly, etc) and they do the math and it’s automatic. To my knowledge you can’t do that buying etfs.
Posted on 3/12/20 at 1:19 am to prostyleoffensetime
OP..I’ve actually been trying to decide between Vanguard and Fidelity. Both have pros and cons, but I’ve been leaning towards Fidelity. I have heard from multiple sources that Fidelity’s customer service is a lot better than Vanguard has been of late. If you don’t mind telling, which funds did you find that are closed to new investors?
Posted on 3/12/20 at 4:46 am to BG333
Overview: Top Roth IRA accounts in February 2020:
Charles Schwab: Best overall.
Betterment: Best robo-adviser.
Fidelity: Best for beginners.
Interactive Brokers: Best for active traders.
: Best for alternative investments.
Vanguard: Best for low costs.
Merrill Edge: Best for in-person help.
I don’t have a preference either way. I’m currently contributing my max that my company matches $1 for $1 the first 6% at work in my 401K and I’m looking at opening up a Roth when I get my yearly bonus in May ($15,000 +) this year so I’m doing research now. Good luck.
For simplicity purposes would it be better to open a Roth through the company (Merrill) that my company uses for its 401K or look into using a different company. I’m just wondering if it’s better to keep everything in house with the same company or use different ones for a range of investing options and investments.
Anyone here have experience using USAA for investing
Charles Schwab: Best overall.
Betterment: Best robo-adviser.
Fidelity: Best for beginners.
Interactive Brokers: Best for active traders.
: Best for alternative investments.
Vanguard: Best for low costs.
Merrill Edge: Best for in-person help.
I don’t have a preference either way. I’m currently contributing my max that my company matches $1 for $1 the first 6% at work in my 401K and I’m looking at opening up a Roth when I get my yearly bonus in May ($15,000 +) this year so I’m doing research now. Good luck.
For simplicity purposes would it be better to open a Roth through the company (Merrill) that my company uses for its 401K or look into using a different company. I’m just wondering if it’s better to keep everything in house with the same company or use different ones for a range of investing options and investments.
Anyone here have experience using USAA for investing
This post was edited on 3/12/20 at 6:14 am
Posted on 3/12/20 at 6:57 am to BG333
quote:
If you don’t mind telling, which funds did you find that are closed to new investors?
Sure, this is just an article I ran across. There’s a lot of high performing Fidelity funds, but if you read the descriptions of each, a couple will say they’re closed to new investors. LINK
Posted on 3/12/20 at 8:18 am to prostyleoffensetime
I use Schwab and have never had an issue. Customer service is fantastic. I use them for Roth and my brokerage. I have Vanguard 401k through my employer. Can't go wrong with either Schwab or Vanguard.
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