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| bruinsrp04 |
 Posted: Sun Dec 31, 2006 8:55 pm Post subject: Opening my Roth IRA |
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New Poster
Joined: 31 Dec 2006
Posts: 2
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935.99 e$
Net worth: 3,718.64
Portfolio Value: 2,782.65
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Newbie here, first question. Im just starting with investing and all the information just gets me more pumped up to want to save more and more.
I'm 24 and I'm trying to decide if I should open my Roth IRA at Vanguard or Fidelity?? I will invest in mutual funds.
If I open at Vanguard: I have to wait till March to come up with the minimum $3000 and I would just put it all in Vanguard 500 Index Fund. I would max out my 2006 and 2007 contributions all to the index fund because I want to avoid the fee for having too little in the fund. This would mean I'd have $8000 by the end of 2007.
If I open at Fidelity: minimum requirement would be waived with automatic investment from my bank account, and I could start saving now. The minimum per fund to waive the annual fee is only $2000 at Fidelity. This means that I could have four different funds and be more
"diversified"
The reason I would pick Vanguard is because the funds expense ratio's are slightly lower than those of Fidelity's. I've read that in the long run, it's better to have funds with lower expense ratio's. I also figure that 10 years from now, low balance fees won't be an issue anymore. These fees are only $20 a year.
The reason I would pick Fidelity is because I can diversify in what type of mutual funds I want to buy. At this age, risk is not an issue for me as I want to just save and I can wait out any market swings.
Being new to investing, if I invest my first $10,000 in the Vanguard 500 Index fund, it wouldn't be such a bad idea right???
Which one do you think I should pick??
Thank you for any thoughts. |
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| mathwizard |
| Posted: Mon Jan 01, 2007 8:22 pm Post subject: |
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Investing Sr. Associate
Joined: 15 May 2006
Posts: 119
This Month: 0
Location: New York City
407.86 e$
Net worth: 25,378.96
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Monthly Return: 3.96%
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| If you only invest mutual funds in your Roth IRA, there's an online broker called FirstTrade. There's no commission to buy or to sell for mutual funds whether it belongs to Vangaurd, Fidelity or any others. |
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| frusnak |
| Posted: Tue Jan 02, 2007 12:36 am Post subject: |
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CFO
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First of all welcome to einvesting! I have added a link to a site that might give be usefull to you.
http://moneycentral.msn.com/detail/market_quote?symbol=VFINX
There are other investment brokers that you can use besides the two you have mentioned. Take you time to learn as much as possible before you pick which one you want to deal with. Good luck!  |
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| nelaina |
| Posted: Wed Mar 28, 2007 3:21 pm Post subject: |
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CFO
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you also may want to check out the Roth IRA with ING.
I've just opened one up myself because they offer no minimum with an AIP of at least $25 per month. Since I am a student I cant contribute much but something is better than nothing! |
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| zerolikedis |
| Posted: Thu Mar 29, 2007 5:47 am Post subject: |
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Investing Manager
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| so thats where the batmobile went. grrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr |
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| jutiki |
| Posted: Fri Mar 30, 2007 9:08 pm Post subject: |
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Investing Sr. Associate
Joined: 06 Aug 2006
Posts: 53
This Month: 0
73398.62 e$
Net worth: 73,398.62
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Monthly Return: 0.00%
Trades this month: 0
Churn Rate: 0.00%Items
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| vetelmo |
| Posted: Sat Mar 31, 2007 7:23 am Post subject: |
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Moderator
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| aricchvala |
| Posted: Wed May 23, 2007 3:55 am Post subject: |
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Investing Sr. Associate
Joined: 25 Apr 2007
Posts: 54
This Month: 0
215.15 e$
Net worth: 215.15
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| i have to say that i am impressed with the college kid that is getting into it now, i always told myself that i needed to in college, but it seemed like buying beer was more important at the time. |
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| Do5 |
| Posted: Tue Jul 03, 2007 6:21 pm Post subject: |
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Investing Sr. Associate
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How about T. Rowe Price?
I have heard others talk about them... |
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