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Author: aznred Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76398  
Subject: Anybody recommend an online IRA? Date: 1/30/2004 5:38 PM
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I'm looking to roll a 401K from my first job into an online IRA account, and was wondering if folks could share their recommendations for an online IRA... Etrade, Ameritrade, etc etc...

Any thoughts? Good or bad experiences?

Thanks!
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Author: dsemmler Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 38843 of 76398
Subject: Re: Anybody recommend an online IRA? Date: 1/30/2004 5:50 PM
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I'm looking to roll a 401K from my first job into an online IRA account, and was wondering if folks could share their recommendations for an online IRA... Etrade, Ameritrade, etc etc...

Any thoughts? Good or bad experiences?


This is just my humble opinion but if you are planning to invest in a particular family of funds, and stay within that family, I would invest directly with that company. For instance, I opened an IRA directly with Vanguard because I plan to keep that money in Vanguard funds.

If you plan on dabbling in some stocks and index funds and whatever else, I would suggest Scottrade. They have received very positive feedback here, although I personally do not have any experience with them.

Right now I still have an account at E*Trade that has been sitting idle and I will most likely close. I am thinking of going with Scottrade for that account and keeping Vanguard for my IRAs.

As a recap, if you want to dabble in a variety of funds I would go with Scottrade. If you will stay within one fund family such as Vanguard, Fidelity or TIAA-CREF, then I would open an account with them directly although you could still use Scottrade and then have the flexibility.

Hope that helps.

dt

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Author: Waltjc One star, 50 posts 10+ Year Anniversary! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 38846 of 76398
Subject: Re: Anybody recommend an online IRA? Date: 1/30/2004 6:06 PM
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Aznred,

I just did the same thing. I had a 401k from a previous employer that when I left that job, I rolled over into a traditional IRA. It has been sitting there for four years. Now that I know what I am doing, I rolled that traditional IRA over into a ROTH through Ameritrade. Obviously I will have to claim this as income, but I feel like it will be much more beneficial to use the money investing in stocks rather than sitting there in mutual funds. I believe I will be able to make up that money that I will have to claim as income in the long haul.

My point is, Ameritrade was very, very helpful through all of this. I had to call a few times, and everything went very smooth. I cannot say anything negative about ScotTrade, as I also wanted an individual account, but wanted to start of small, so I opened up an account with ScotTrade as well. They too, have been helpful. I hope this helps some.

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 38847 of 76398
Subject: Re: Anybody recommend an online IRA? Date: 1/30/2004 6:08 PM
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First, I read up on portfolio theory....the following books come to mind

1) Four Pillars of Investing, by Bernstein...very highly recommended (2000) - only one edition out

2) Bogle on Mutual funds

3) Gibson - Asset Allocation (1998) - only one edition out

4) Malkiel, A Random Walk Down Wall Street, 2000 or later pub date

By then, you'll be totally convinced to be in index funds...

And the lowest cost index funds are at Vanguard.

You can download the forms from www.vanguard.com for an IRA rollover, send them in to Vanguard, and look at the status/value of your investments on line.

If you want to be 'trading' stocks in your IRA, start at top of page and read again.

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Author: yobria Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 38851 of 76398
Subject: Re: Anybody recommend an online IRA? Date: 1/30/2004 10:40 PM
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Agree with dt. Vanguard if you're sure you don't want to fiddle with individual stocks, Scottrade otherwise. And keep investing.

Nick

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Author: FuskieFool 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: 38855 of 76398
Subject: Re: Anybody recommend an online IRA? Date: 1/31/2004 1:06 AM
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Scottrade.

Fuskie
Who does not need to say anymore...

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Author: aznred Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 38875 of 76398
Subject: Re: Anybody recommend an online IRA? Date: 2/1/2004 3:28 AM
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Thanks for all the feedback, people. I think I'm going to go with Scottrade. I'm actually looking to do some stock investing with the IRA.

Motley Fool has the best discussion boards, bar none... Thanks!

Aznred

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