6

I'm planning on opening a Roth IRA in the very near immediate future (by this year's end, if not sooner). Is there a place I can go to see the different pros/cons of IRAs offered by different companies (or does anyone know)? Are there some highly recommended ones? Any other advice? Thanks!

  • Are you planning to invest in mutual funds or individual stocks? Or both? – mpenrow Aug 19 '10 at 15:52
  • 1
    Most brokers offer IRA accounts. Besides the special tax status and lack of margin, they are pretty much the same as other trading accounts. I have mine with Scottrade and pay the usual $7 per trade with no periodic fees. – James Roth Aug 19 '10 at 15:57
  • @mpenrow Mutual funds at some point, yes. Individual stocks? Not any time soon. Primary focus right now: open an IRA and contribute to it (along with my current non-employer contributed/profit shared 401k) and also start building up emergency fund – Bryan Denny Aug 19 '10 at 16:05
  • 2
    Just to be nit picky - is not an IRA a 'type' of account? The question might be better as 'compares IRA options' because you really want to know about what types of funds you can put into your IRA. I think? – MrChrister Aug 19 '10 at 16:45
  • I'm with MrChrister. An IRA account from one company is going to be identical to the IRA from another. Comparing them is somewhat of a fool's errand. You'd do better to spend that research time on comparing brokers and investments. – JohnFx Sep 20 '11 at 14:58
6

If you are going to be investing in mutual funds then Vanguard is considered the king of mutual funds. T Rowe Price is also good. Just be sure and check fees for the accounts and for the individual funds you are investing in.

For brokerage accounts where you want to buy individual stocks check out this article. http://www.fool.com/how-to-invest/broker/fullcompare.aspx

If you are going to just be investing in mutual funds for the foreseeable future I would stick with an account at the mutual fund company you are investing in. Vanguard or T Rowe Price for example.

2

There is some information out there, I got this one from "Get Rich Slowly" but there are others, you can check the Motley Fool or Clark Howard as well. I think the main differences are in the types of investments you can do, like is it mutual funds only, and what the fees are on those funds.

YMMV of course!

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.