How/who do I go to, to start a Roth IRA?

Td Ameritrade schwab etrade vanguard

Go to website and click open Roth IRA. Fill out info. Prob set it up in 10 minutes. Put money in account. By an index fund stock etf whatever you want

I’ve never tried but whatever brokerage you use keeps track of your contributions for the year and I’d imagine they won’t let you contribute more than the max.

quote:

---

i have a possibly stupid question. how is the annual max monitored? is it a scout's honor thing with the IRS or do the funds themselves usually have a max? i'm just more curious how these things are actually regulated year in, year out.

---

Most sites have a stop gap to prevent you from contributing excess as they will usually track your contributions. It's possible that not all brokerages do this, or if you have an auto invest set-up it may not stop you. Additionally, there's nothing to stop you from having multiple Roth accounts at different brokerages and accidentally over contributing.

With that said, every brokerage files a contribution form with the IRS, 5498. So the IRS will find out and come get their share.

I would highly recommend checking out Schwab Intelligent IRA service. No fees and really good portfolio options with ultra low cost ETFs.

Vanguard or Fidelity

If you are looking for a set it and forget it type situation I'd just go with a total s&p market index fund. Others here would tell you to go 80 total s&p and 20 international index fund. I'd do some research and decide what is best for you

Index fund is likely your best bet if you don't want to commit a lot of time and want something relatively safe

quote:

---

Is Fidelity a good platform to use? My work 401k is through Fidelity and I would like to keep all personal investments in one place.

---

If they charge any fees, no. If they have no fees and you get full access to all the low cost ETFs like Vanguard and Schwab ETFs without any transaction fees, then they should be as good as anyone else.