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BOZ4LSU
LSU Fan
A place
Member since Jan 2012
2339 posts

How/who do I go to, to start a Roth IRA?
I saw that if you want to start investing for retirement that you want to go to a brokerage or a robo-advisor rather than a bank. Any tips/advice/recommendations?


TheTroll
Member since Feb 2020
28 posts

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

who do I go to, to start a Roth IRA


Vanguard dot com


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thatguy777
LSU Fan
br
Member since Feb 2007
2038 posts

re: 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


SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
373652 posts

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


thatguy777
LSU Fan
br
Member since Feb 2007
2038 posts

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


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hottub
Florida State Fan
Member since Dec 2012
1305 posts
 Online 

re: How/who do I go to, to start a Roth IRA?
Who do you bank with?

A lot of banks have brokerage services.


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Puffoluffagus
LSU Fan
Savannah, GA
Member since Feb 2009
4652 posts

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


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Weagle25
Auburn Fan
THE Football State.
Member since Oct 2011
38467 posts

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

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.


Never gone over so don’t know what happens but the brokerage keeps track


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slinger1317
Houston Astros Fan
Northshore
Member since Sep 2005
3972 posts
 Online 

re: How/who do I go to, to start a Roth IRA?
Don’t use a financial advisor. They are about as useless as a travel agent these days. Use TD Ameritrade or similar and open your own account.


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30
notsince98
Missouri Fan
KC, MO
Member since Oct 2012
12313 posts

re: How/who do I go to, to start a Roth IRA?
I would highly recommend checking out Schwab Intelligent IRA service. No fees and really good portfolio options with ultra low cost ETFs.


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RedMustang
Auburn Fan
Member since Oct 2011
6362 posts

re: How/who do I go to, to start a Roth IRA?
I like E*TRADE over TD Ameritrade. Their website and app are more intuitive. They also have tons of funds available, plus great screening and research tools.


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Ace Midnight
LSU Fan
Between sanity and madness
Member since Dec 2006
75410 posts

re: How/who do I go to, to start a Roth IRA?
Vanguard or Fidelity


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BOZ4LSU
LSU Fan
A place
Member since Jan 2012
2339 posts

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

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



Which one is best for guaranteed growth? Like I want 6% growth for sure, should I invest in a stock, index fund, or something else. This is specifically for retirement so I'm looking for a sure thing where the money just grows on its own


thatguy777
LSU Fan
br
Member since Feb 2007
2038 posts

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



tigerforever7
LSU Fan
Baton Rouge
Member since Aug 2012
526 posts
 Online 

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


notsince98
Missouri Fan
KC, MO
Member since Oct 2012
12313 posts

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


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thatguy777
LSU Fan
br
Member since Feb 2007
2038 posts

re: How/who do I go to, to start a Roth IRA?
Never used them. I use td Ameritrade and vanguard.



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