Good Choices for new 32 yo roth account
- Thread starter davidrn
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SecondCor521
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
The three standard recommendations around here are (in alphabetical order): Fidelity, Schwab, Vanguard.
My kids all have Schwab Roths and I have been pleased with Schwab's service. I've also had other accounts and Fidelity and Vanguard and have been pleased with them as well.
People will discuss the differences and pros and cons of the three, but I think all three are good.
I've never had an account with TDA, but as a volunteer tax preparer I've seen people bring in their TDA tax statements a number of times. For those TDA customers who have an advisor, their accounts seem to be sliced, diced, and churned, and they're definitely paying more in taxes than they need to, which is less money that they'll have later.
My kids all have Schwab Roths and I have been pleased with Schwab's service. I've also had other accounts and Fidelity and Vanguard and have been pleased with them as well.
People will discuss the differences and pros and cons of the three, but I think all three are good.
I've never had an account with TDA, but as a volunteer tax preparer I've seen people bring in their TDA tax statements a number of times. For those TDA customers who have an advisor, their accounts seem to be sliced, diced, and churned, and they're definitely paying more in taxes than they need to, which is less money that they'll have later.
ATXFIRE2034
Recycles dryer sheets
I use Fidelity and always have. Their customer service and suite of tools are best of breed in my opinion.
Yes, any one is a good choice though Fidelity is usually preferred over TDA. If you want more support or more bells and whistles on the websites or a local rep you can visit, I'd go with Fidelity or Schwab or TDA. If you like things very simple and don't want/need a lot of support, Vanguard is also an excellent choice. I've been with Vanguard many years and quite happy. In the process of right now of consolidating many non-Vanguard accounts into our vanguard account and having to use their support to do it. It's going very well but I know what I need from them so that makes things quite easy.
Vanguard....the interface is wonky sometimes but the fees are very low and keep the most money invested. You might like the book, The Simple Path to Wealth by JL Collins. He has a blog too-if you dont want to buy the book. Look for his stock series-it explains why Vanguard is good.
Believe all of them are pretty good. I have Schwab because it was convenient to where I previously lived. It is still relatively close. Try to find the one that works best for you. They all provide good S&P500 index funds with low expense ratios. They all sell TSLA
Next step is work towards maxing out your Roth IRA (safely as to not strain your day-to-day life).
$500/month * 12/months = $6,000 (MAXED ROTH IRA)
It feels good when you first do it and bet it feels WAY better after multiple years of completing it.
Don't forget to see if you're eligible for HSA contributions too. This investing thing is like "crack"... no idea what that's like but investing is addictive!
If you choose Schwab let me know via PM and there is a link I can send you that ONLY gets YOU extra money when you use it (if you deposit $25,000+).
It does NOT have any affiliate benefit for me.
Even if you deposit less than $25,000, it's SO WORTH IT... start your investments and LOVE IT!!
beernutzbob
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Schwab's customer service imo is better than Vanguard and Fidelity's and I like their website the best of the three. I currently have a Schwab Roth IRA and also taxable accounts and a Schwab bank account and have my wife's Vanguard 401k. I previously used Fidelity for a taxable account.
My kids are mid-20s now and when they were teens I set up Schwab taxable accounts for them. After college I set up contributory Schwab Roth accounts for them and have been funding them. They took my advice and are 100% invested in Schwab's total market fund (SWTSX) which has a lower expense ratio (.03%) than Vanguard's VTSAX (.04%) or VTSMX (.14%).
My kids are mid-20s now and when they were teens I set up Schwab taxable accounts for them. After college I set up contributory Schwab Roth accounts for them and have been funding them. They took my advice and are 100% invested in Schwab's total market fund (SWTSX) which has a lower expense ratio (.03%) than Vanguard's VTSAX (.04%) or VTSMX (.14%).
Ian S
Thinks s/he gets paid by the post
TD Ameritrade is being merged into Schwab so eventually, if you go with TDA, you'll wind up with Schwab. I haven't heard from my TD advisor in ages: I get contacted by my Fido advisor every few months or so. I have a fairly new small Schwab brokerage account because they gave me a bonus - I suppose at some point I'll consolidate with one outfit. I had an IRA with Vanguard for a long time but decided that I preferred an outfit with bricks and mortar stores.
teetee
Full time employment: Posting here.
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I went with Vanguard for my Roth IRA. It is pretty simple process and there are many fund selections but since I am looking for low.turnover I sex I just went with Vanguard stock index funds.
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