UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: bigcaat Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75340  
Subject: Re: Where to open my IRA? Date: 6/5/2001 3:53 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 2
Hi Spider.

I'm ready to start saving money for retirement I'm just not sure where. I've been reading the boards for a while and have looked at TIAA-CREF, is everyone eligible to open an account or do you have to be a teacher?

No, you don't have to be a teacher...anyone can open a retirement account there. I have a Roth there and am very happy with it.

***********************

Vanguard, I want to invest in the 500 index fund but right now I only have $500 to start, they need $1000 to start. Just save another $500 and go there?

Initial investment is not your only concern. Vanguard has charges fees to low-balance investors.

The following links might help:

Prior post re: Vanguard Fees: http://boards.fool.com/Message.asp?mid=14988801

Article comparing TIAA to Vanguard for Small Investors: http://www.indexfunds.com/articles/20001115_VG-TIAA_com_tax_JK.htm

***********************

I have also looked at some of the discount brokers, Scottrade and Sharebuilder. You can open an IRA with them and with Scottrade you can buy Vanguard funds. I don't plan on trading stocks and not sure of the fees with these places as compared to those mentioned above.

If you don't want to trade, I don't see the need in it. If you every want to leave, they will charge you. Why not just open up your Roth (I'm assuming a Roth) directly with the fund company itself? It's very convenient and both companies (Vanguard and TIAA) are nice to deal with...at least as far as my experience has been. (knock on wood :) )

If it were me...(and it was)...I would go with TIAA-CREF for the meantime. Look into TCEIX, their Equity Index Fund. It has low expenses, and covers the broad market (Russell 3000). Then, if you want to diversify a little, they have an international fund (TIINX) and a bond fund (TIPBX) that you can contribute to without all of the fees.

www.tiaacref.com
www.vanguard.com

Hope this helps.
Good Luck,
Caat
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

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