How can we help you?

Type a word or phrase below to search our help topics.

Roth IRA Broker Fees and Growth

Comments

4 comments

  • Avatar
    Martin Fried

    What are the fees from? Are they costs for trading or maintenance fees? Generally, the yearly fees, if any, are about $25 - $50 a uear. and trade costs (if any) are about $5.00/trade. Depending on your needs, you should be able to find an account with no costs for either if you do everything online.

    Check the nerdwallet article:  https://www.nerdwallet.com/best/investing/ira-accounts

    0
    Comment actions Permalink
  • Avatar
    Jennifer May

    Thank you, Martin! They are annual maintenance fees from what I can tell. Looks like $75. Thank you for the reference article too.

    0
    Comment actions Permalink
  • Avatar
    Martin Fried

    I think you could do better than that. If you are not into individual stocks, I spent years with an IRA on Vanguard. It had no yearly fees, and no trading costs - although they only have mutual funds. Vanguard practically invented low-cost index funds, and they have some very simple "target retirement" funds where you choose a fund that is targeted to your estimated time of retirement, and it automatically adjusts the holdings to that, moving to more stable funds as you approach retirement. They also have S&P index funds, etc, which Warren Buffett says is what most people should have. You might have one bad year, but mostly it will average at least 5 - 10% or more return.

    0
    Comment actions Permalink
  • Avatar
    Jennifer May

    I really appreciate your response. I am learning quite a lot.

    0
    Comment actions Permalink

Please sign in to leave a comment.