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Opening a new IRA for myself and my wife, where to open account?

Posted on 12/18/23 at 10:45 pm
Posted by Saint5446
Member since Jan 2014
912 posts
Posted on 12/18/23 at 10:45 pm
Opening two new IRAs, plan to backdoor Roth them. Currently max a 401k through a company I own for myself and one for my wife. Funds were selected by a professional, doing well. 38 years old, have about 250k in retirement assets total but a couple of companies that are worth a good bit more that are really starting to get going.

Looked at nerd wallet and they recommend Fidelity for an IRA. The Robinhood automatic 3% match for gold members looks intriguing but seems limited to individual stocks with minimal other options and I know people have mixed feelings about robin hood. I am a pretty novice investor who has dabbled with some stocks/crypto and meme plays, kind of want to use these IRAs to learn a bit more how to do this longer term for a few years with a smaller amount of money before maybe rolling over some other money I have in another vehicle to the IRA.

Looking for recommendations for WHERE to open the IRAs. Thanks in advance.
Posted by UltimaParadox
North Carolina
Member since Nov 2008
52538 posts
Posted on 12/18/23 at 11:14 pm to
Fidelity is the best in town imo. Best user interface along with access to their zero cost index funds
Posted by hottub
Member since Dec 2012
3654 posts
Posted on 12/19/23 at 7:31 am to
quote:

Fidelity is the best in town imo. Best user interface along with access to their zero cost index funds


This
Posted by Bow08tie
Louisiana
Member since Oct 2011
4563 posts
Posted on 12/19/23 at 10:13 am to
Another vote for Fidelity
Posted by makersmark1
earth
Member since Oct 2011
21225 posts
Posted on 12/19/23 at 10:16 am to
I’ve had Schwab, TD Ameritrade, Interactive Brokers, and Fidelity.

Fidelity is great, but they don’t keep contribution records by tax year- or at least I can’t see it for my SEP.

I know I have until 15 April to fund it.
Posted by Stumpknocker
SWLA
Member since Mar 2021
815 posts
Posted on 12/19/23 at 1:59 pm to
Vanguard.
Posted by TigerToGeaux
TX
Member since Nov 2022
190 posts
Posted on 12/19/23 at 10:09 pm to
+1 for vanguard.

I have been happy with them overall and have not had any issues. I have two IRAs (wife and I), three 529s (3 kiddos) and a brokerage/taxable account. All easy to set up and maintain.

Also, I have heard nothing but praise about fidelity. I also usually hear people switching from vanguard to fidelity, but not the other way around. So maybe I need to check out fidelity…
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