Options for Roth IRAs

July 26th, 2007 | by mbhunter |

GettingGreen over in the MBN Forums recently maxed out his contribution to his Roth IRA for this year.  This is $4,000 (assuming he makes under $160k in AGI).  This is good, future-oriented financial planning.  He asked fellow forum members where they keep their Roth IRAs.  Some of the responses:

  • Vanguard.  The Vanguard Group is a mainstay of inexpensive mutual fund investing.  Several forum members have Roth IRAs there, including GettingGreen.
  • Fidelity.  I, as well as other members, have an IRA with Fidelity Investments.  It’s also reputable.
  • TD Ameritrade.  I don’t have experience with TD Ameritrade personally but a couple of members like it.
  • Scottrade.  I’ve had Scottrade as a discount broker for a few years, but not for an IRA.
  • Tradeking.  Another discount broker.  I have no experience with Tradeking.
  • eTrade.  I have no experience with eTrade either.
  • Self-directed IRA.  This is a little more involved to set up but the investment options are much wider.  Foreign currency and real estate are options here.

Any other suggestions?

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  1. 4 Responses to “Options for Roth IRAs”

  2. By NCN on Jul 26, 2007 | Reply

    I use Trade King…
    GREAT if you buy individual stocks or ETFs (less than 5 bucks a trade..)
    But, not so good if you want to buy MUTUAL FUNDS (fees charged to purchase all funds…)
    NCN

  3. By Compounding on Jul 26, 2007 | Reply

    I have mine parked at E*Trade. I just recently moved there from my B&M bank, National City. I have three IRAs now:

    1) My Rollover Roth IRA: This is a just a standard Roth IRA, but I use it to hold funds from 401(k) rollovers (either directly from Roth 401k contributions, or from Rollover IRAs. I like to keep these funds clean of any direct IRA contributions, as they are somewhat further protected.

    2) Rollover IRA: I am currently in the process of getting my last 401k rolled in here, and then it will be transitioned to my Rollover Roth IRA.

    3) Roth IRA: This is where I make my contributions.

    I picked E*Trade for a few reasons:

    1) I have existing accounts (savings and ESPP).

    2) They offer custodial IRAs, for when my kids start working, and I will be contributing to their retirement with LOTs of time for compounding.

    3) They are well known and have been excellent with support.

  4. By Chief Family Officer on Jul 28, 2007 | Reply

    Not everyone can become a member but if USAA is an option, I love them. Their customer service is great.

  5. By pfodyssey on Jul 28, 2007 | Reply

    T Rowe Price. Excellent set of funds that quietly outpaces their competition much of the time. I strongly suggest taking a look.

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