No. of Recommendations: 1
Does anyone recommend specific firms? Also, what should I look for when deciding which firm to go with for an IRA?


I have accounts at Fidelity and TD Waterhouse. I prefer the latter, as I get fast & accurate answers to my questions/difficulties, and am charged nothing for my IRA, ROTH, KEOGH, nor 'regular' account.

When checking out a firm, ask what fees they will charge to open/monitor your account, as well as what the trading commissions are. (Twice when my internet provider was down, I called my broker at TDW and as a courtesy he made the trades for me at the lesser on-line cost rather than at the broker-traded cost.)

With a $100 a month contribution, you probably want to let the money accumulate in your IRA before buying an equity/fund. Otherwise, the trading fees will eat you alive. Once you have enough to make an initial investment into a fund, some funds let you buy new shares at no commission cost. (That is the FUND's decision, not the BROKERAGE's.)

Out of curiosity, I used Morningstar's fund screener for those that accept a minimum of $500 initial purchase with no-load and less than 1% expenses. There were over 200 of them, in a variety of 'flavors'...

http://screen.morningstar.com/FundResults.html


You might also visit the 'Index Fund' board here at the Fool site.


Good luck to you, and congrats on getting an early start for retirement.
Alice of the frogfarm


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