Where is the best place to open a Roth IRA?
Asked by
UTChris (
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)
August 2nd, 2009
I’m 22 and looking to start a Roth IRA. I have been comparing online accounts from Fidelity, Vanguard, and T. Rowe Price. I don’t have much to start with, but would like to contribute monthly. So far I’m leaning heavily towards the Vanguard STAR fund, with $1,000 to start, no fees, and could upgrade to their Target funds when I reach $3,000. Would this be a good choice, or are there any other suggestions I should be looking at?
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3 Answers
Our (my wife and I) roth focus is rather aggressive. We are only 2 years older than you so we think that is appropriate
our funds
Amcap
SMALLCAP World Fund
Capital Income Builder
AMCAP Fund
EuroPacific Growth Fund
Fundamental Investors
one question, does your employer offer 401k match? you should contribute to that up to their match before proceeding into the roth
You can start a Roth at a variety of places, even through your bank. What you have to do is evaluate your ability to tolerate risk before you start your investments going. You are young enough to have time to correct things, though.
As fino534 says, if you are employed check out 401k options, too.
I will be starting a decent paying internship soon and will be able to put back alittle into a Roth IRA, but just being an internship I don’t think they will offer a 401k. I’ll definitely make sure though. I keep hearing that even if I start with a small amount and only contribute $100 a month, it’s better than nothing. I will still have 1 semester of school left, but I have no debt. That’s a good list of funds, but I’m still trying to decide who to start a Roth with, any thoughts on the Vanguard STAR fund?
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