From personal and similiar experience -- I opened an Ameritrade (plug, plug) account and a Roth IRA also at Ameritrade. The fly in the ointment is the *earned* income provision vis. *unearned*, but that is really a minor hurdle afterall. The earnings in the Roth will accumulate tax free, much better than tax defered, but is limited to $2k per year unless you're married. The new long-term holding tax rate of 20% is better than the taxed-as-ordinary-income-when-withdrawn of a traditional IRA, in my view. Read whatever advice TMF Pixy volunteers thoroughly, as it will be very good.
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