Comments on: What to Look For When Opening a Roth IRA

By: Gloria Wressell

Gloria Wressell — Fri, 23 Sep 2011 23:44:05 +0000

I qualify for my school district to match my investment in a retirement fund. I am a teacher but got started late in life. I was self-employed for 10 years and now am in my fifties. I have a representative from ING trying to get me to invest with them. Is this the best company to go with? I have been researching them on the internet and noticed that they may sell their company. I also noticed they are NOT one of the top rated. Money is tight and I don’t want to make any serious mistakes. Any advice you can give me is helpful.

By: Ryan

Ryan — Mon, 21 Mar 2011 21:59:54 +0000

If you are happy with the company that manages your 401k and the investment selections they offer, prices they charge, etc, then sure. But most 401k plans have separate account logins than individual accounts, so you may not be able to see both accounts when you are signed in. You have a little time still, so I recommend looking into different options. Here is a list of popular places to open a Roth IRA.

By: Kristin

Kristin — Mon, 21 Mar 2011 21:54:31 +0000

Thanks! I gotta get on it. Do you think it is easiest to open a Roth IRA with the same company that does my 401K?

By: Ryan

Ryan — Mon, 21 Mar 2011 21:08:56 +0000

Yes, you can open an IRA and make contributions for 201 anytime between now and April 18, 2011. Any contributions made after that date will count toward 2011 IRA contributions.

By: Kristin

Kristin — Mon, 21 Mar 2011 19:41:02 +0000

I am interested in opening a Roth IRA and just starting to do a little research. One question I have is, can I invest in an IRA now and still claim it on my 2010 taxes?
Thanks.

By: Ryan

Ryan — Wed, 06 Oct 2010 15:15:38 +0000

Meghan, Opening a Roth IRA in addition to your 401k is a great idea because of the long term tax advantages a Roth IRA offers. For most people it is best to invest with a 401k until they maximize employer matching contributions, then invest in a Roth IRA until they can max that out. If there is more money available for investing each month, then direct that toward the 401k. Best of luck!

By: Meghan

Meghan — Wed, 06 Oct 2010 14:56:00 +0000

I have an employer matching my 401k, but I was also interested in opening a Roth IRA. Would this just be a waste of my time? I already have the max my employer is matching and that is why I was thinking I should open a Roth IRA. Is this a bad idea? Should i just invest more into my 401k?

Thanks for your help.

By: Broke M.B.A.

Broke M.B.A. — Fri, 30 Oct 2009 00:11:04 +0000

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.