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Roth IRA Questions
Posted on 7/16/14 at 12:48 pm
Posted on 7/16/14 at 12:48 pm
Currently only have money invested in my company 401k where I'm putting up what my company is willing to match.
I have some disposable income to invest, called about starting a Roth IRA and I was told I can start one with Merrill lynch with 5k and they'd waive fees and provide an advisor, or I could do a self directed Roth which would be much cheaper.
Should I try and educate myself on stocks and mutual funds and do it myself or is the advisor worth it?
Should I do something totally different, give me some advice.
I have some disposable income to invest, called about starting a Roth IRA and I was told I can start one with Merrill lynch with 5k and they'd waive fees and provide an advisor, or I could do a self directed Roth which would be much cheaper.
Should I try and educate myself on stocks and mutual funds and do it myself or is the advisor worth it?
Should I do something totally different, give me some advice.
This post was edited on 7/16/14 at 12:49 pm
3
Posted on 7/16/14 at 1:01 pm to ItsThatDude12
Check the top thread on this page.
Posted on 7/16/14 at 1:43 pm to ItsThatDude12
you will do well to educate yourself either way, the fees and costs of many funds can be high.
opening an account somewhere should be reasonable.
I have been with merrill lynch and edward jones in the past until I discovared Vanguard through its founder's books. He invented the low cost index fund. costs do matter very much. Fidelity and swabb probably offer low cost funds only because of the success of vanguard. Skip years of high fees and wrong turns and just keep things in a low cost, broad market based index fund and be content such as the Total Stock Market Index fund and similar bond fund to suit your risk tolerance.
opening an account somewhere should be reasonable.
I have been with merrill lynch and edward jones in the past until I discovared Vanguard through its founder's books. He invented the low cost index fund. costs do matter very much. Fidelity and swabb probably offer low cost funds only because of the success of vanguard. Skip years of high fees and wrong turns and just keep things in a low cost, broad market based index fund and be content such as the Total Stock Market Index fund and similar bond fund to suit your risk tolerance.
This post was edited on 7/16/14 at 1:44 pm
Posted on 7/16/14 at 2:07 pm to ItsThatDude12
I have one with fidelity. Can start with 200 bucks as long as you set up auto investing
Posted on 7/16/14 at 3:18 pm to ragacamps
Auto investing ?
Posted on 7/16/14 at 3:45 pm to ItsThatDude12
They draft 200 bucks from your checking or savings and buy whatever fund you like. Once you reach 2500 you don't have to continue at all or at 200 level. So you can now buy at whatever level you like
You can do this with as many funds,etfs,stocks, bonds you want. You can even start with multiple funds as long as you do 200
I hate posting on my phone
You can do this with as many funds,etfs,stocks, bonds you want. You can even start with multiple funds as long as you do 200
I hate posting on my phone
This post was edited on 7/16/14 at 3:47 pm
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