Comments on: 10 Best Places To Open A Roth IRA in 2024

By: john & barbara

john & barbara — Fri, 08 Feb 2019 13:55:18 +0000

Want to start a Roth IRA for our adult son, any advise on which
company we should consider.

By: Jeff Rose

Jeff Rose — Sun, 05 Aug 2018 16:50:03 +0000

In reply to Phuong. Hi Phuong - I return of 12% is pretty healthy, so I can't recommend any place that will guarantee you that return.

By: Phuong

Phuong — Wed, 01 Aug 2018 07:08:38 +0000

I am a stay-home mom. I have about about $39K in my current Roth IRA account. I’m considering transferring it to a new financial institution to manage, because my current one has high loads and they are unwilling to disclose fees, commissions and so forth on paper. I don’t trust them to work in my interest. Anyhow, from 2016 to 2017, my returns rate is about 12%. Where should I transfer my Roth IRA to get the same or compatible returns rate with low fees and commission? Thanks.

By: Jeff Rose

Jeff Rose — Wed, 18 Apr 2018 23:01:11 +0000

In reply to PJ. Excellent advice PJ!!!

By: PJ

PJ — Wed, 18 Apr 2018 12:24:37 +0000

In reply to Thushara. Hi Thushara, The problem with investing your Emergency Fund is that you lose accessibility. Your emergency fund isn't an investment, it's insurance. Insurance doesn't make you money, it costs money. You are going to, unfortunately, have to accept that your emergency fund is going to lose money in inflation. Just like car insurance protects you against the loss of your car, an emergency fund protects you against a loss of income or other major financial emergency. Therefore, that money needs to be liquid, which means a savings account (at ~.5% interest) or a money market account (at ~1% interest). Don't consider it an investment, consider it insurance, pay the cost, and use your Roth IRA, 401k, or other investments as your long-term return. PJ

By: Jeff Rose

Jeff Rose — Fri, 13 Oct 2017 21:40:45 +0000

In reply to Marcella. Hi Marcella - Since you're just starting out, you might try one of the robo advisors, like Betterment or Wealthfront. They'll pick the investments for you, and then fully manage the account. All you'll need to do is fund the account. A Roth is good for you at this point, since you can withdraw your contributions without tax consequences.

By: Marcella

Marcella — Wed, 04 Oct 2017 19:18:35 +0000

Hello, I turned 18 in August this year and I’m still a senior in high school. I haven’t gotten a job yet and will soon be going off to college where I’ll have to start working soon. I do have some money set aside that’s around 1000-2500 (can’t remember exactly). I’m a bit young to be looking into a Roth, but I want to put it and maybe a little more later into one where I can mostly just set it aside and forget about it until it’s time. Any suggestions?

By: Joe

Joe — Sat, 02 Sep 2017 15:41:12 +0000

What about Vanguard? They’re the best! And their commission is $0 to buy the best index funds… VTSAX, etc.

By: Jeff Rose

Jeff Rose — Sat, 31 Dec 2016 20:15:43 +0000

In reply to Joe. @Joe Really, any online brokerage will do. If you're looking specifically for stocks, take a look at Scottrade or Etrade. If you want ETF's, Betterment is a great option. For mutual funds, I would look at Vanguard.

By: Joe

Joe — Sat, 31 Dec 2016 01:20:08 +0000

My 29 year old wife did some part time work and earned about $3000 in 2016. I would like to invest her entire gross income into a Roth IRA. I am looking for something where it is set it and forget it and just leave it in stocks for the next 30 years. Suggestions?