Comments on: What to Look For When Opening a Roth IRA http://cashmoneylife.com/2009/10/28/what-to-look-for-when-opening-a-roth-ira/ Money Management, Small Business, Career Thu, 18 Mar 2010 17:16:16 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Broke M.B.A. http://cashmoneylife.com/2009/10/28/what-to-look-for-when-opening-a-roth-ira/comment-page-1/#comment-20206 Broke M.B.A. Thu, 29 Oct 2009 23:11:04 +0000 http://cashmoneylife.com/?p=1917#comment-20206 Hi Ryan, You've just touched on something that has been on my "to-do" list for a while now. I have a Roth IRA with ING/Sharebuilder. I signed up in 2006 at the age of 23, but didn't take the time to compare fees and costs between companies or brokers. It's nice to hear that I'm in good company and that it's very easy to switch financial institutions if necessary. Hi Ryan,

You’ve just touched on something that has been on my “to-do” list for a while now. I have a Roth IRA with ING/Sharebuilder. I signed up in 2006 at the age of 23, but didn’t take the time to compare fees and costs between companies or brokers. It’s nice to hear that I’m in good company and that it’s very easy to switch financial institutions if necessary.

]]> By: Craig http://cashmoneylife.com/2009/10/28/what-to-look-for-when-opening-a-roth-ira/comment-page-1/#comment-20193 Craig Wed, 28 Oct 2009 14:58:34 +0000 http://cashmoneylife.com/?p=1917#comment-20193 I ended up going with Vanguard and starting my account knowing nothing about IRA or retirement funds, the account manager and customer service were excellent. They spent 30 minutes on the phone with me answering my very basic financial questions and explaining the whole process. I felt comfortable enough to begin and transfer money over. Customer service is the key, you don't need to have it face to face if you don't want. I ended up going with Vanguard and starting my account knowing nothing about IRA or retirement funds, the account manager and customer service were excellent. They spent 30 minutes on the phone with me answering my very basic financial questions and explaining the whole process. I felt comfortable enough to begin and transfer money over. Customer service is the key, you don’t need to have it face to face if you don’t want.

]]> By: Joes Money http://cashmoneylife.com/2009/10/28/what-to-look-for-when-opening-a-roth-ira/comment-page-1/#comment-20192 Joes Money Wed, 28 Oct 2009 14:18:27 +0000 http://cashmoneylife.com/?p=1917#comment-20192 Great read! Ryan, exactly! At least they had enough sense to start a roth at a young age. Better to have higher fees than anticipated than to have not roth at all. Great tips for fitting into a good Roth! Great read!

Ryan, exactly! At least they had enough sense to start a roth at a young age. Better to have higher fees than anticipated than to have not roth at all.

Great tips for fitting into a good Roth!

]]> By: Ryan http://cashmoneylife.com/2009/10/28/what-to-look-for-when-opening-a-roth-ira/comment-page-1/#comment-20191 Ryan Wed, 28 Oct 2009 13:52:50 +0000 http://cashmoneylife.com/?p=1917#comment-20191 The good thing is that you got started young, which many people don't think about or are too intimidated to do. The other good thing is that it is easy to transfer an IRA to another institution. I made the mistake of opening an IRA with a huge front load and high expenses. A couple years later I learned why that wasn't a good option and moved my IRA to another institution, which was painless. I was out the money for the load I paid, but the fund I chose had much lower fees. I learned from that experience! The good thing is that you got started young, which many people don’t think about or are too intimidated to do. The other good thing is that it is easy to transfer an IRA to another institution.

I made the mistake of opening an IRA with a huge front load and high expenses. A couple years later I learned why that wasn’t a good option and moved my IRA to another institution, which was painless. I was out the money for the load I paid, but the fund I chose had much lower fees. I learned from that experience!

]]> By: Miranda http://cashmoneylife.com/2009/10/28/what-to-look-for-when-opening-a-roth-ira/comment-page-1/#comment-20190 Miranda Wed, 28 Oct 2009 12:55:51 +0000 http://cashmoneylife.com/?p=1917#comment-20190 We made the mistake of opening our Roth IRA with our insurance guy. There was no load fee, but the admin fees were higher than we would have liked. It's what comes of being young, just married and having no clue. :) We made the mistake of opening our Roth IRA with our insurance guy. There was no load fee, but the admin fees were higher than we would have liked. It’s what comes of being young, just married and having no clue. :)

]]> By: Brian http://cashmoneylife.com/2009/10/28/what-to-look-for-when-opening-a-roth-ira/comment-page-1/#comment-20188 Brian Wed, 28 Oct 2009 04:36:59 +0000 http://cashmoneylife.com/?p=1917#comment-20188 I recently was looking to rollover an IRA and my old 401k to a Roth. I found out the discount brokerages want me to put the money in a Rollover IRA first and then convert it to a Roth. The brokerage with cheaper trades charges $50 for this. The other brokerage has no charge. Fees like that could really offset the cheaper trades. I recently was looking to rollover an IRA and my old 401k to a Roth. I found out the discount brokerages want me to put the money in a Rollover IRA first and then convert it to a Roth. The brokerage with cheaper trades charges $50 for this. The other brokerage has no charge. Fees like that could really offset the cheaper trades.

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