UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: gtko Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76387  
Subject: Custodial IRA Date: 12/11/1998 11:48 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Although I try to provide well for my family, I've also
tried to teach my daughters the value of working as
well as investing. This last summer, I wanted my 16yr
old to get first hand experience. The proposal I made
to her was that if she worked, I would match any money
she made so she could open a ROTH IRA. She took my
offer and earned $800 of which both she and I are very
proud. Now, the problem I have is finding a firm
that will take a Custodial IRA account. Most discount
brokerages will not accept a Custodial IRA. Schwab will
but for a $30 maintenance fee and a $30 transaction fee
for stocks, this is just too much on an $800
investment. The only acceptable alternative has been
Stein Roe Mutual fund which has $10 maintenance fee for
their "no load" mutuals. In 2 years there won't be a
problem but until then, does anyone have any other
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next


The Retire Early Home Page
Discussion on accelerating retirement day.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Dividend Growth Investing

Good Time for Dividend Champions?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.