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Opening a Roth IRA - Advice
Posted on 9/28/18 at 10:16 am
Posted on 9/28/18 at 10:16 am
I am looking into opening a Roth IRA, but needing some advice. I'm 23 years old, so really just looking for an early start to retirement.
I have been maxing out my 401k, and then some for over a year now. I'm wanting to supplement that with Roth contributions.
Any advice on investing companies? Fidelity, Vanguard, TD Ameritrade, etc.
Also, I would prefer to make my own trade decisions, or just put it into an account and not have to worry much about it without paying someone else a percentage to manage it for me. Any advice on choosing stocks and what not?
I'm new to the game and very interested in learning more. TIA
I have been maxing out my 401k, and then some for over a year now. I'm wanting to supplement that with Roth contributions.
Any advice on investing companies? Fidelity, Vanguard, TD Ameritrade, etc.
Also, I would prefer to make my own trade decisions, or just put it into an account and not have to worry much about it without paying someone else a percentage to manage it for me. Any advice on choosing stocks and what not?
I'm new to the game and very interested in learning more. TIA
7
Posted on 9/28/18 at 10:19 am to tap011
VANGUARD
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D
many of us here invest in stocks but are you really at this level at 23? put it in index funds for now. Did you read the sticky thread? if not GO READ IT!
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quote:
Any advice on choosing stocks and what not?
many of us here invest in stocks but are you really at this level at 23? put it in index funds for now. Did you read the sticky thread? if not GO READ IT!
Posted on 9/28/18 at 10:26 am to Fat Bastard
quote:
many of us here invest in stocks but are you really at this level at 23? put it in index funds for now
I guess that's what I was trying to say. I'm definitely not at that level, though I would like to learn. I'm just looking for how to pick and choose the right index fund(s). I will read the sticky, because I probably should have done that first
Posted on 9/28/18 at 10:43 am to tap011
If you bank with Chase I'd at least look into their new service.
I use Vanguard. Thank God they're finally trying to update their interface. low fees though
I use Vanguard. Thank God they're finally trying to update their interface. low fees though
Posted on 9/28/18 at 10:46 am to tap011
yeah just read that first because plenty here can give you advice but it MAY not be best for you at this time. We have many experienced veteran investors here. you have to crawl before you can walk. 
Posted on 9/28/18 at 11:01 am to tap011
I started my first Roth IRA this year (at age 52 
) and went with one of the Vanguard target date funds. I’m happy with Vanguard. Using TD Ameritrade for my cannabis penny stock, but will use Vanguard for everything else (i.e., the real investments that I will not touch until 13 years from now at a minimum). At your age, I’d definitely go with an index fund - set it and forget it.
) and went with one of the Vanguard target date funds. I’m happy with Vanguard. Using TD Ameritrade for my cannabis penny stock, but will use Vanguard for everything else (i.e., the real investments that I will not touch until 13 years from now at a minimum). At your age, I’d definitely go with an index fund - set it and forget it.This post was edited on 9/28/18 at 11:03 am
Posted on 9/28/18 at 11:02 am to tap011
I use Fidelity. No complaints. Tons of free or very low cost funds to use. I like it alot
Posted on 9/28/18 at 1:56 pm to jsk020
Vanguard, Schwab, or Fidelity are all great with low or no costs.
I'd look into seeing if you have a brick and mortar location close to you and potentially use that to distinguish between them. Its nice to occasionally be able to drop in for this or that, wire money, large deposit, etc.
Other than that simply pick a couple of mutual funds and ETF's and spread your allocations out. The key is getting started early and making contributions, you will learn more and more over time.
I also recommend to everyone early on to buy just a little single stocks. I'm talking 5-10% at most. Even just one share is of 1-2 different stocks.
Its important to learn how single stocks move compared to the market in general.
I'd look into seeing if you have a brick and mortar location close to you and potentially use that to distinguish between them. Its nice to occasionally be able to drop in for this or that, wire money, large deposit, etc.
Other than that simply pick a couple of mutual funds and ETF's and spread your allocations out. The key is getting started early and making contributions, you will learn more and more over time.
I also recommend to everyone early on to buy just a little single stocks. I'm talking 5-10% at most. Even just one share is of 1-2 different stocks.
Its important to learn how single stocks move compared to the market in general.
Posted on 9/28/18 at 4:51 pm to tap011
I use Fidelity, have had no issues.
Posted on 9/29/18 at 8:57 am to tap011
Vanguard all the way.
Posted on 10/1/18 at 11:41 am to tap011
Can't go wrong with either Fidelity or Vanguard.
Read the sticky.
Find the lowest cost fund with no transaction fee and at least 10%+ return over last 3/5 years.
Don't forget to setup automatic contributions and automatic investments.
Read the sticky.
Find the lowest cost fund with no transaction fee and at least 10%+ return over last 3/5 years.
Don't forget to setup automatic contributions and automatic investments.
Posted on 10/2/18 at 11:34 am to seawolf06
I just opened up a Vanguard Roth IRA yesterday. Put 5500 in it. But I am fairly lost when it comes to investing within the fund. I've read the stickies, and I'm still kind of stuck. Just pick one of the ones that have been mentioned as good ones, and purchase?
This post was edited on 10/2/18 at 11:41 am
Posted on 10/2/18 at 12:53 pm to Funky Tide 8
You'd be perfectly fine just buying all VTI which is Vanguards Total Stock market ETF or their similar mutual fund. $5500 is not worth losing sleep over what you buy, so I'd just take 2-4 ETF's or mutual funds and go from there.
Posted on 10/2/18 at 12:57 pm to Funky Tide 8
quote:
I just opened up a Vanguard Roth IRA yesterday. Put 5500 in it. But I am fairly lost when it comes to investing within the fund. I've read the stickies, and I'm still kind of stuck. Just pick one of the ones that have been mentioned as good ones, and purchase?
I'm in a similar boat as you and just opened my first IRA a couple months ago. I'm starting out investing in VXUS, VWO, and VTI.
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