Best Roth IRAs and why

[Kevinception]

Currently, I'm debating on Fidelity and Vanguard. Which one do you like better for a Roth IRA, or is there a different IRA platform that you like better. I have no interest in a traditional IRA.

[tacpoly]

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@Kevinception wrote:

Currently, I'm debating on Fidelity and Vanguard. Which one do you like better for a Roth IRA, or is there a different IRA platform that you like better. I have no interest in a traditional IRA.

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Look at the fund options, the fees associated with those funds, and any other account fees (maintenance, transactional) that you will be charged.  You should be able to differentiate between the two after this.  I'm not going to do it for you because this is a skill people need to develop if they are thinking of investing their money. 

[bada_bing]

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@tacpoly wrote:

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@Kevinception wrote:

Currently, I'm debating on Fidelity and Vanguard. Which one do you like better for a Roth IRA, or is there a different IRA platform that you like better. I have no interest in a traditional IRA.

---

Look at the fund options, the fees associated with those funds, and any other account fees (maintenance, transactional) that you will be charged.  You should be able to differentiate between the two after this.  I'm not going to do it for you because this is a skill people need to develop if they are thinking of investing their money. 

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I can tell you what I do. I use Schwab to hold my account. I invest mostly in Vanguard ETF's inside that Schwab account. I personally don't want my investments to be captive in one mutual fund company family and I think there are a couple small advantages to ETF's over traditional mutual funds. Study up and make your own judgements. The biggest hurdle is actually putting aside the money. After you have it saved, small changes in investment strategy have small effect.

[TheConductor]

Consider FolioInvesting as a possible alternative option. It's essentially a roll-your-own-mutual-fund platform that allows you to create portfolios of multiple investments and purchase fractional shares of them.

There's a flat annual fee that covers all trading costs as long as you trade within their restricted daily trading windows. At-will trades cost more.

[Anonymous]

Vanguard is great.

[Open123]

For Roth IRAs, I'd recommend the following:

1.  Brokerage Firm with no annual maintenance fee, if possible.  Not sure if they exist these days, but try to find one.

2.  Low trading costs - no more than $7.95 per trade.  Fidelity is $7.99.  NEVER pay more than that, under any circumstances.

3.  If you're DCA'ing a small monthly amount, find a good low cost growth oriented "no load" mutual fund.

4.  If investing all at once, find a good low cost ETF (SPY is fine to start) and buy all your shares at once.

5.  Don't worry about diversifying/asset allocation/stocks market until you have at least $10K in your portfolio; until then, just stick with SPY.

6.  DO NOT *under any circumstances* buy a loaded mutual fund.  Stick with ETFs.

Good luck! 

*Edited*  PS - Also, until your investable assets reach at least $500K or so, NEVER EVER pay for any kind of professional advice.  Just do it yourself by reading basic financial planning guidelines and asset allocation strategy utilizing low cost ETFs and/or individual stocks.