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  1. #1
    AillyLinge Guest

    Default FNF - huge gap down?

    Scottrade, Etrade, and Ameritrade are all great options for a Roth IRA. I don't like Fidelity.

    Contributions made into your Roth IRA are accessible at anytime since the money was contributed after tax. 10K of earnings can be tapped for first time home purchases. It is THE BEST investment account there is in terms of taxes. All earnings in the account are tax free. I have been contributing the max into my IRA since 1999 and have also "converted" my rollovers to a Roth. I have two IRA's, one with a mutual fund company and the other in a brokerage account at ING (I'm a stock broker/financial advisor with ING).

    I use the mutual fund account to take advantage of dollar cost averaging and it keeps me disciplined. The brokerage account I use for trading stocks. I use an allocation of 20% bonds/cash, 30% mutual funds, and 50% individual stocks.

  2. Default

    Thanks so much for the information.

    Fidelity is definately not a consideration any more.

    I am looking to have my Roth set up so that each paycheck my payroll department can make a direct deposit for a specified amount into the account. Etrade and Scottrade do not offer that option. I have yet to contact Ameritrade.

    If I were to withdraw the gains to purchase a home. Are the gains taxed at my current tax level and I just dont incur the extra 10% penalty?

  3. #3
    Aaronvup Guest

    Default

    you might double check on this if you are thinking about mutual funds.

    I use schwab, I know in my Roth IRA account, the minimum investment for many Mutual funds are $1,000, where they are normally $2,500 for normal brokerage accounts.

    I personally like ETF's better, many times you can get the same gains, and you are paying far less in expense ratios



  4. Default

    I was considering one of the Fidelity funds but it said a minimum of $2,500 was required. I got Fidelity and the guy said "Unfortunately until you hit the $2,500 mark we do not have many options. We can get you a high yield money market account until you reach that amount"

    I agree with you. I prefer the ETF route as opposed to Mutual Funds. I just dont like the fact that Fidelity charges $19.95 on both ends if I wanted to purchase an ETF

  5. #5
    AaronPaw Guest

    Default

    I have called Etrade, Scottrade, and Ameritrade. Unfortunately none of these brokers offer direct deposit.

    It may seem like an insignigicant matter to many but this is how I would like it set up.

    Does anyone else have any brokers they could suggest for setting up a Roth that offers the ability to do direct deposit?

  6. Default

    Sharebuilder is your best bet IMO.

    You can set up plans that will invest for you on a weekly/bi-weekly/monthly, etc.
    I know you can have it set-up where it will request the funds automatically from your checking/savings account like 2 days before the investment date.
    Very conveinient.



 

 

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