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Investing/Strategies / Retirement Investing
|Subject: Re: Roth IRA acct and safekeeping fees||Date: 9/27/2013 9:43 PM|
|Author: dsr10||Number: 73355 of 74759|
Thanks for the responses. The whole idea of safekeeping didn't seem reasonable to me, at least now I know my instinct was correct.
I'm going to check out all the brokerage firms suggested, it gives me a great starting point. I was not really considering an account at Wells to be honest, seems that all the feedback I've gotten so far has been negative.
I have a few reasons for considering a self directed account. One is the management fee of a managed account. My plan was to begin with something along the lines of a mutual fund or an ETF, as MisterFungi suggested. Somewhere down the road I may decide to pick stocks, but I know I'm not anywhere close to being ready for that yet. I'm assuming it would only make sense to pick a stock is if it doesn't represent much of my overall portfolio, and if I get some good advice.
For the past few weeks I've been playing around with the stock simulator at Investopedia. I've learned a lot during that time. I've actually picked a few that I'm sorta proud of: Krispy Kreme, IBM, and a Vanguard small cap (VB). Of course I've also picked some real losers too. From that I realized I need to find a decent mutual or ETF to put my money into.
So Schwab no-fee plain vanilla. Any other suggestions of things I should look into?
I still have a million questions, but you all have given me some great feedback to get me started on the journey.
Next steps: pick a brokerage firm and an ETF or Mutual Fund.
Again, thanks everybody!
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