I’ve been looking for a place to fund a new Roth IRA. Right now I’m only looking to contribute a little bit and have a low initial deposit. Some of these sites have age based funds that auto-adjust the type of investments as you get older, but they have slightly larger management fees.
Vanguard – They have some very good IRA plans and good mutual funds but require $3000 to start, $20 for each fund per year, $50 minimum investment per month with automatic investment plan
Fidelity – Another highly recommended company. They normally have a $2500 minimum, but if you use their automatic investment plan with a $200 per month minimum the initial deposit is waved. It looks like there is no fees for their IRA accounts.
T. Rowe Price – I’ll just cut and paste from their site. There are no annual IRA fees for mutual fund accounts with balances of at least $5,000; individuals with balances of at least $50,000; or households with balances of at least $100,000 or more invested with T. Rowe Price. A $10 annual fee is charged for each IRA mutual fund account under $5,000. Minimum contributions $1,000, or $50 per month with the Automatic Asset Builder Account. But i haven’t been able to find what the minimum to open an account it.
Scottrade – One of my co-workers uses scottrade for this stock purchases, but only looking at their IRA’s. Unfortunately I can’t find much detail about their IRA cost. They have no fee-IRAs, but I can’t find the investment or deposit requirements. I did find where it says its only $500 to fund an account, but I don’t know if that’s for stock accounts or IRA.
Those are the key four I’ve been looking at, if anyone has any feedback or other options please leave a comment.
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