This is Jeff Rose from goodfinancialcents.com.
I’m here to share with you the best places
that you can open up a Roth IRA account today.
Hopefully, you know I love the Roth IRA. You’ve
seen the Roth IRA movement. You’ve seen me
bust out my Roth IRA movement skills and you’re
excited. You want to start a Roth IRA, but
you’re just scared because you don’t know
where to go. On my blog I have a post that
summarizes the best places that you can open
a Roth IRA account, but today I want to share
two of my more popular options that will hopefully
give you some encouragement to give you some
hope that you can go out and open a Roth IRA
account.
Before I share with you the two places I really
love where we can open up a Roth IRA, I want
to give you first why I have chosen these.
When you are looking to open a Roth IRA, the
two things that are very important are that
you want to find a place that is going to
charge you low fees because you don’t want
to be ripped off and paying extra fees that
are going to eat away at your returns, and
the second thing that you want is good, solid,
customer service. If you have a question or
need you want to be able to call that entity
or person and ask them how you can help with
your investment situation.
There are plenty of options to open Roth IRAs
online. You’ve got Scottrade, eTrade, Schwab,
ShareBuilder, OptionsXpress, TradeMONSTER.
There are tons of them out there. The one
I want to share with you today is Scottrade.
Scottrade is based out of St. Louis. That
is where their home office is at, which is
about 90 miles from my house, and I am just
partial to them. I called them because I was
curious how it works.
I have been in the investment game for 10
years now and I wasn’t really familiar with
all the online options. I called them and
was really impressed that they have over 3,000
mutual funds that have no fees. They have
several ETFs that you can buy with no fees,
and they have a toll-free number that you
can call at anytime and they will help you
out.
I actually opened an account with Scottrade,
which I show you in another video. I actually
walk you through the process. I funded my
account. The next day I got a call from the
local branch manager asking if I needed help
maneuvering through the Scottrade account,
how to make my first trade. For an online
option, it was amazing that I got a phone
call from a real person that is actually within
driving distance that is willing to help me
out. They are always there for me and always
there for you if you open an account. That
is one reason why I love Scottrade. Not only
are they low in fees, but you have the ability
to actually walk into a brick and mortar location
and talk to them at no cost or you can call
the toll-free number and they will help you
out at any time.
The second option I want to mention is a newer
company. It’s a newer start up, but I really
love what they are doing especially for the
new investor. This company is called Betterment.
Betterment has been around for a couple of
years now. I was able to meet the CEO at the
financial blogger conference last year. What
really impresses me with them is that they’ve
really lowered their fees. They do have a
start-up investment where you have to have
at least $10,000 to have a very low cost,
but if you have less than $10,000 then you’re
only going to pay $3 a month to have an account.
Three bucks a month, $36 a year is all it
cost, and they will buy an ETF portfolio for
you and manage it on your behalf. You just
tell them how aggressive or conservative you
are and they will make the changes accordingly.
It really takes you out of the driver’s seat
and puts all the emphasis on them to make
the investment decisions for you and you can
sit back, fund the account on a monthly basis
and know that your money is growing and you
don’t have to worry about it.
The only thing about Betterment that I don’t
like is if you want to buy individual stocks,
if you want to have more control in your investments,
then that wouldn’t be the option for you.
If you do like sitting in the back seat and
let Betterment sit in the driver’s seat, then
that is a solid option with very low fees.
Those are just two of the options of where
you can open up a Roth IRA account online.
Obviously, there are tons out there. Check
out the blog post that summarizes the other
options that you can look at. If you have
any questions regarding where to open a Roth
IRA, how to open a Roth IRA, if the Roth IRA
make sense to you, go to the blog goodfinancialcents.com
and send me a question. Hit me up on Twitter
or ask me on Facebook, I’ll be glad to help
you out anytime. This is Jeff Rose. Take care.
The opinions voiced in this material are for
general information only and are not intended
to provide specific advice or recommendations
for any individual. To determine which investment(s)
may be appropriate for you, consult your financial
advisor prior to investing.