trade_info
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try fidelity.com or vanguard.com or schwab.com .. also cheapest is tradeking.com
wells fargo is a good bank, investment fees on the funds are high however. |
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Gordo
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i've opened mine at vanguard. they have a great selection of funds to choose from, their minimums for IRAs are usually $1000.00, and they're really cheap annual maintenance fees. i've also checked out fidelity, but i'm more comfortable with vanguard. |
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metaraison
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TIAA-CREF just became for profit
They are open to the public now and are solid investors. They have been quite friendly and helpful with advice.
H & R Block bought out Olde Brokers and I have done well with them as well |
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gpriceathome
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I just attended a workshop on this, and my additional reccomendation from the advice you've already received is that you look for a company that offers an IRA that will allow you the option to add REAL ESTATE investments in your portfolio.
If you invest your money, you want to be responsible to get the best rate of return that you can so that you can retire with at the bare minimum of $1,000,000 in your portfolio. If you're smart your $150 per month will yield even more than that.
Real estate is still making more millionaires than any other industry, and now with the new government regulations, you can have real estate investments in your IRA portfolio. So if you're an investor now, you can avoid a great deal of taxes by putting your earnings in your IRA. Consider this when looking for a good company for your IRA. |
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writerbynature
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The Roth IRA is an option only if you earn below a certain income level.
There is a maximum annual contribution of $4,000, $4500 if you are 50 or over.
If you do not fit this criteria and you are not financially savvy - consider a mutual fund with a diverse group of products.
Scudder has just merged with Deutsche bank. I did have those funds, but now have Franklin-Templeton funds. I haven't had this long enough to know how these products perform.
One other consideration is your age. The younger you are, the more aggressively you can invest.
This, along with the other answers, will give you an idea of what is out there. If you can understand the prospectus and annual reports - that is the best indicator of a fund's performance.
Unfortunately, none of us can predict the future. |
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dixie_til_i_die
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Like the good folks ahead of me said, ROTH is the way to go. Wells Fargo does have high maintenance fees, I don't recommend them. |
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huggies
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sorry can't help ya. However I can give you some advice. If ever in Ireland, never ask how you can start an IRA. They are Irish equivelant to Hamas, Only they aren't in Governemrnt,... yet |
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dilybro0502
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I just recently open a Roth IRA. I spoke to an investment banker and he explain with my income that a roth would be the best. I can only contribute so much a year, but I do not have to contribute a certain percent. |
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nakjns75
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no, y would u be on here talking about that? |
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duckboy007
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IRA stands for individual retirement account...
I would suggest opening an account with Ameritrade where you can direct where your investments go.
Or open an account with Fidelity where they will be able to set you up in one of there mutual funds, typically most long term investors are better off by investing in index funds, Fidelity will offer index funds. Essentially index funds track various indexs, such as the S&P 500, which tracks the 500 largest companies listed in the stock market.
With putting that little in monthly, you should look for a firm that will charge little to no monthly fees.
if you want additional information email me or do a yahoo search on "investing in an IRA" or "opening an IRA account" |
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mike
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I would go with a roth IRA. You shouldn't have a problem with minimums if you will be depositing 150 per month. It is dependent on your age on how much of a percentage of your income you should deposit. The older you are, the higher the percentage should be to see the highest return. Wells Fargo is a strong reputable bank, but I would still shop around and see about getting on with a credit union or perhaps with Principal financial. |
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COOKIE
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Money.com has advise and calculators to help you plan for your retirement. They have a lot of answers to questions before you deal directly with any of the suggested organizations. They also compare the differences between Roth and others. You may want to be smart and check them out first so you have some of your own answers before calling a 'salesperson' and not understanding the 'lingo'. Don't jump at the first one. Get lots of info and compare before signing up as it is a pain to change later. If you can calculate what your income after retirement will be and find it will be less of an income than before retirement, remember that you will pay less taxes then. So you also must decide if you want taxes out now...or later. Good luck and do lots of research. Remember it's your money! |
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bhartman
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MetLife is a great company too look into for this, They have a product which will lock in your gains from the market and prevent you from losing your investment. Initial investment is a minimum of 100 a month so it is well in your range. For more information i would start with them; if you are in PA you can contact them at 1-877-789-6865 ext. 1014 it is a toll free number. Some advice would be that an IRA or traditional IRA is a good saving tool for retirement but given your situation it would be better for you to start a Roth IRA because of the tax implications. You already have savings in your 401k which is tax deferred(pre-tax money) now and you will be tax when you start using it. The same goes for a traditional IRA. A Roth IRA however is money that is taxed now (after-tax money) and will not be taxed when used starting at 59 1/2 or no later then 70 1/2. This why instead of having to taxed deferred retirement plans you will have better balance between tax deferred and tax free money when you use them. This will essentially allow you to lower your tax bracket when you are retired. This is done by using tax deferred money (your 401k) to a certain taxable point then with drawling the rest of your desired income for that year from your tax free this way you could have an income of say $60k and only be taxed an income of $30k. Also you should never use a Roth IRA as an emergency fund. Those are best when done using a bank account such as savings or checking or Mutual Funds which allow for higher returns. If you use a Roth as an emergency fund you are just taking money out of your own retirement. |
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askinusa
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Yup, it is called a ROTH IRA talk to your bank manager about it. He/She will be able to help you with that. You can also set up a requisition to deduct an amount from your paycheck every week/month. Good luck! |
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Smartipantz
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If you are young a Roth IRA is probably best for you. A Roth lets you put in up to $4000 a year. There are 2 majotr advantages to a Roth for young people.
1) All the money you put in and all the interest can be withdrawn without paying Federal taxes as long as you meet a few criteria. Look Here: http://www.investopedia.com/university/retirementplans/rothira/
2) You can use the Roth as an emergency fund because you can take out your investment without penalty. You should have a separeate emergency fund anyway, but if you don't a Roth will help you do both. Just remember Emergency means EMERGENCY don't take money out if you can help it it will cost you in lost interest. Look here: http://www.bankrate.com/brm/news/sav/20000320c.asp?caret=25
3) You can withdraw $10,000 penalty free to buy a house. This could come in handy also.
I would recommend startign with an index fund or lifecycle fund, put in the maximum you can, and pick a good company like Vanguard or Fidelity. And research your fund carefully at an independent rater like Morningstar.com before you invest. |
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fern933
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maybe for starters, you should visit the bankz and ask a teller. |
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mochamami27
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no, sorry. but whats an IRA??? it sounds kinda kool. |
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Prinicess
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No not really ,but! I can find you some help. |
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Tara
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well you shouldn't ask any of us but my opinion is maybe you can see if that is the kind of money you want. |
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richfluck
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I would like to recommend to you Western Southern Financial Group. We have exactly what you are looking for. We have high interest rates that would allow you to locked in. Also $150 a month is no problem at all. We have payroll deduction along with automatic bank draft, which can be specified to come out on what ever day of the month is best for you. If you have any questions or would like to talk in a little more detail please email me @ rich.*****@wslife.com. |
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Emily
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I have to agree with the others that suggested a Roth IRA, it's tax free, no penalties. With deposting 150.00 a month won't put you over you 2000.00 limit |
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jpatrese324
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I agree a Roth IRA would be best for you. You don't have to put down that much to start with and certain companies have a higher interest rate so shop around first. |
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