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Author: Fuskie Big funky green star, 20000 posts Top Favorite Fools Old School Fool Ticker Guide SC1 Red Winner of the 2010 Rule Breakers Challenge Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76386  
Subject: Re: newbie Date: 11/30/2004 5:57 PM
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1) which company is the best to open an IRA account with? i'm leaning towards e-trade but will take any suggestions. i like the lack of fees and lack of minimum options to start an account.

It really depends on whether you want to be self-directed, have your hand held, access to top notch research and gut feeling. Personally I use Scottrade where there are no account maintenance fees, account minimums, mutual fund transaction fees, and equity trading fees as low as $7.

2) after opening an IRA, it seems index funds seem to be the best thing to start with. i'm considered to be a low-risk taker. i want to invest in something that will bring solid long-term growth over the 30+ yrs. i do know eventually i will have to invest in some risky stocks. what's the general recommendation? which index funds have good returns? i kind of want to put my money in and don't worry about it for many years.

You should be comfortable in what you invest, but at your young age, taking on some risk will be more rewarding 30 years from now. Many Fools like Vanguard, especially the S&P 500 and Total Stock Market index, but generally speaking you just need to look at the key indicators, such as performance, turnover, expense ration, divididend yield, management tenure, and such and be sure to read the prospectus.

Take a step back, however, do you have an eFund valued at 3-6 months living expenses for if you suddenly lose income? Do you have a Household Fund for regular living expenses you can't predict (car/HVAC repair)? Are you contributing to a 401k up to the company co-match? Are you contributing to a Roth IRA? Are you then contributing the remaining amount of your 401k? These are all steps to being able to retire on your own terms.

Fuskie
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