Can anyone give me a good recommendation on where I can set up a ROTH for me and my wife? I'd prefer one that would allow the freedom to invest in stocks and mutual funds with low cost. It would also be nice to be able to open a broker account in addition to the ROTHs. I appreciate any suggestions.
I have all of my investments with Fidelity, which affords you the opportunity to invest in stocks and mutual funds. In addition, you may opt to reinvest your dividends at no charge. My three accounts with Fidelity are my SEP-IRA, my Roth IRA and my brokerage account.You may peruse their website at www.fidelity.com. You may even complete the paperwork to transfer your holdings from your current brokerage to fidelity. Of course you would have to mail the information needed, but can complete the paperwork over the Web.Donna
You might check out the Discount Brokers board at http://boards.fool.com/Messages.asp?mid=22913820&bid=100146 including its FAQ.A number of regular posters there like Scottrade (including me) but others have had some bad experiences with them. Scottrade has its own board here at http://boards.fool.com/Messages.asp?mid=22925572&bid=115617Scottrade has $7 commissions for the purchase or sale of stocks. In addition they have a large number of mutual funds that can be purchased with no transaction fee. Funds not on their no fee list can be purchased for $17. I believer that Scottrade has a $500 minimum account balance and does not charge an account maintenance fee.Bob
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