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Author: anjhale Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76101  
Subject: Where to open IRA? Date: 4/10/2001 7:38 PM
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I am very new to investing and would like to open two IRA's (one for me one for hubby). We are definitely eligible. My mom says to buy direct from a company like Vanguard, but the fees seem high. What about sharebuilder.com or buyandhold.com IRA's?
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Author: TheVlad Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 29043 of 76101
Subject: Re: Where to open IRA? Date: 4/10/2001 9:25 PM
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<<<My mom says to buy direct from a company like Vanguard, but the fees seem high. What about sharebuilder.com or buyandhold.com IRA's?>>>

Unless you are opening a Vanguard brokerage account, the fees will definitely be less if you invest in their mutual funds, especially index funds.

Sharebuilder.com and buyandhold.com are pseudo-drip companies where you invest based on the dollar amount. You will have to purchase stocks yourself. There are fee related to both stock purchase and inactivity fees if you don't have a regular investment plan.

If you are very new to investing, the best thing is to invest into a Vanguard index fund such as VFINX (tracks S&P 500), for example, and then use TMF resource to educate yourself more about investing.

Good luck!

Vlad

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Author: thehendrys Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 29046 of 76101
Subject: Re: Where to open IRA? Date: 4/10/2001 9:45 PM
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If you are very new to investing, the best thing is to invest into a Vanguard index fund such as VFINX (tracks S&P 500), for example.

I agree with TheVlad. The S&P Index fund offered by Vanguard is a good choice. (VFINX).

Good luck, all
the hendrys

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Author: tsouth Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 29050 of 76101
Subject: Re: Where to open IRA? Date: 4/11/2001 9:46 AM
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I just opened Roth IRAs for myself and DH this weekend at Vanguard -- investing 100% in the Vanguard 500 Index Fund. Fees will only run us $20/year for each IRA (not counting the minimal MF expenses), which seemed reasonable to me.



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Author: DucksDollar Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 29084 of 76101
Subject: Re: Where to open IRA? Date: 4/12/2001 7:01 PM
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investing 100% in the Vanguard 500 Index Fund. Fees will only run us $20/year for each IRA (not counting the minimal MF expenses), which seemed reasonable to me.

Can anyone let me know why someone wouldn't just open their IRA with Scottrade if it's free?!!

The reason why I ask is b/c I want to open my IRA with Scottrade since it offers both IRA and stock investment instead of having some money in Vanguard and some money in stocks in another brokerage such as E*Trade (or Scottrade).



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Author: TheVlad Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 29085 of 76101
Subject: Re: Where to open IRA? Date: 4/12/2001 8:02 PM
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<<<The reason why I ask is b/c I want to open my IRA with Scottrade since it offers both IRA and stock investment instead of having some money in Vanguard and some money in stocks in another brokerage such as E*Trade (or Scottrade).>>>

E-Trade (and any other online broker, I imagine) also offer IRA accounts. I don't know why you decided that they don't. Online brokerages normally do not charge any fees on your IRA but you will have to pay commissions on your trades. Does Scottrade offer not to charge commissions?

Another point to consider is that with the funds you can pay maintenace fees separately but with online brokerages all your trading costs will have to come out from the contribution amount.

Vlad



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