The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing

URL:  http://boards.fool.com/you-are-in-no-way-bound-to-the-12247128.aspx

Subject:  Re: Where to open Roth IRA Date:  3/21/2000  12:08 PM
Author:  mikeh5278 Number:  20339 of 75824

You are in no way bound to the "discount" broker that you bank is going to. Most mutual fund companies themselves will let you set up a Roth IRA directly with them, usually with a minimal initial investment as long as you systematically invest in your IRA (i.e. $166, or $332 a month for a couple). Shop around for the mutual fund that most closely meets your investment objectives (i.e. growth, income, amount of diversification, industry specific, etc.) and then look for those funds (look for a trend amoung a companies fund offerings...are they all doing well, or just one lucky one) that have demonstrated excellent long-term growth (try 10+ years). Lastly, look at the fees charged by the fund. Here, a quarter of a percent can mean several thousand dollars in the end. Just think, you would shop around for a mortgage and compare down to the quarter percent here, as this is a couple hundred thousand dollar investment. Your Roth could be a several million dollar investment.....
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us