UnThreaded | Threaded | Whole Thread (6) | Ignore Thread Prev | Next
Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75335  
Subject: Re: What expenes to expect on a Roth IRA Date: 7/23/1999 7:53 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Greetings, GPwalker, and welcome. You asked:

<<I will be starting a Self-Directed Roth IRA very soon and I'm wondering what expenes might I occur. I would like to make monthly deductions from my checking account, but I'm questioning the expenes/fees from doing it contributing monthly or annually. Which is better?>>

As far as expenses connected with a monthly deposit, the vast majority of custodians/brokers don't charge anything for that service. Some, though, will allow only minimum deposits such as $50 to $100. For that, you'll have to check with your broker. You don't talk about how much and what you will do with those deposits. If the amount is small, then certainly you won't use them for trading immediately because transaction costs would eat you alive. In that case, the money would stay in the account as part of the broker's sweep account earning money market fund returns. If those returns are less than you could get elsewhere, then perhaps an annual deposit versus a monthly one would be better for your purposes.

Regards..Pixy
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (6) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:
Value Hounds

Medallion Financial: TAXI!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
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.
Advertisement